By the way, not ragging on the Droid! [
saltydroid.info]
Just putting forward a contrary analysis, knowing how these LGAT Gurus operate their seminar and business structures.
Some people have taken many of the exact same seminars and trainings that James Ray took in his early years, where they teach people how to run these complex seminar corporations.
The bottom line is that either James Ray was lying and exaggerating for years about how much money he was making for advertising purposes, (he was) or he is lying now about being broke, after having moved his assets out of the system. (he is).
Its not an either or, but both.
Its very simple to hire an expert in that area to set up the financial systems for you, with a single meeting, based on an insider referral from others in the field. James Ray was a close marketing buddy of all the LGAT bigshots until people who died in his seminar hit the MEDIA. (They were still his buddies after Colleen Conaway died, they only dropped him from their referral lists due to the toxic PR, not due to what was done to the victims).
So he could have used the financial experts used by a Jack Canfield or Tony Robbins.
The first lesson of the LGAT seminar Guru is when you get a large payday of 500K+ for one seminar, then you do NOT put that into the company to pay debt and you do NOT put it into a house. You move it out fast.
He may have had assets moved out of the system legally by experts, or improperly by a crony, only the experts in the field can figure that one out with audits. One assumes that is happening and is going to happen, so we'll have to wait and see.
If they reduce his bail, then of course on paper he is broke.
But that doesn't mean the millions sucked in after The Oprah Effect were squandered.
Again, the experts are going to look into it, but the real estate investment company by the brother Jon C Ray looks interesting. [
forum.culteducation.com]
Its safe to assume that the James Ray companies had loads of debt before The Oprah Effect. But as stated, these guys all keep their companies in the red intentionally, even if they are making profits.
Even the most ridiculous lame low-end idiot LGAT Guru wannabe knows to not keep any real assets in their own name. These maniacs are OBSESSED with that, as they project their own crooked behavior onto the world and thus assume as soon as they get anythng, some "crook" will sue them to steal it from them.
There are countless very low-end wannabe Gurus who register themselves as their own type of "religion" so they can take a "vow of poverty" on their tax forms, and pay ZERO tax. Meanwhile they can drive a nice car, live in a nice home, all paid/leased through a 3rd party system. And those are very low-end folks.
Hate to be psychic, again, but right from the top it was predicted that James Ray would say he has nothing, as that is part of being an LGAT Guru, not keeping any assets in your own name.
From day one, smalltime LGAT gurus are taught to keep themselves insolvent, as that is the best defense against lawsuits, and works great for taxes as well. They are taught to never even own their own home in their name, or cars, or anything.
You never hear about it, as only rarely does it hit the media like this.
But as has been said many times, from DAY ONE of LGAT seminar Guru kindergarten, you are taught to never hold assets. And now they will use the James Ray example as the ultimate teaching story.
But before James Ray, they all have taught that an "accident" can happen at your seminar and some "crooked lawyers" will rob you of everything. LGAT Gurus in the USA are obsessed with that.
And all the major LGAT seminar systems get sued quite frequently, so that is part of the cost of doing business for them.
Anyway, that is how the game works, but it will be up to the authorities and experts to open up the books and find out where the Oprah Effect money went.
Rays own reps said his accounts were drained recently to pay his lawyers and some "creditors". Anyone taking bets those "creditors" were other companies related to James Ray?
Of course, on top of this, James Ray is DELIBERATELY keeping himself in jail by not making bail. Of course he could get his brother, family, followers to put up the 500K, but he doesn't want to. This is obviously being done for strategic purposes, as has been mentioned by others, due to the lawsuits, to try and prove he is broke.
But no question, James Ray has kept himself in jail so far, on purpose and intentionally.
Edited 3 time(s). Last edit at 02/24/2010 03:54AM by The Anticult.