Sometime, maybe a year ago, I heard Lenny Dykstra on a local radio station talking the local radio station talking about Lenny Dykstra’s transformation into an uber-successful stock picking/investing guru. He apparently appears on TV regularly, has until recently been making picks for thestreet.com, and maybe even publishing other newsletters. He even had Jim Cramer in his corner, “He is one of the great ones in this business. Lenny Dykstra.” It all sounded a bit sketchy to me. Well guess who’s just filed for bankruptcy?
The 46-year-old has no more than $50,000 of assets and between $10 million and $50 million of liabilities, according to a petition filed Tuesday with the U.S. Bankruptcy Court in the Central District of California.
Dykstra’s filing comes in the wake of more than 20 lawsuits he faces tied to his activities as a financial entrepreneur, including The Players Club, a glossy magazine for athletes he had helped launch in 2008.
According to an April article on ESPN.com, Dykstra put his net worth at $60 million, and also owned a black Rolls Royce Phantom and Gulfstream II jet.
Thanks to Fark for the heads up.
Update: Here’s the audio I heard from 3/17/2008. The guys on the radio were really just talking about Dykstra’s appearance on HBO’s Real Sports.
Update 2: For more Lenny goodness, try reading this GQ article from a photographer who worked for him, or this ESPN article, or this DeadSpin post with some video from a more recent HBO Real Sports segment.
