By John Sullivan Investigative Reporter
Conman Snake Oil Salesman Lance Benedict filed for Chapter 7 Bankruptcy Protection last week to try and shield him from the massive amount of money he’s stolen from business partners and costumers from his now-defunct TTM Guitars company.
Upon going through Benedict’s filing, we noticed he’d listed his wife, Karen Benedict as a creditor. This is rather strange to the ordinary person, but for a scam artist like Benedict, there’s a reason for it.
Soon after posting that Benedict filed bankruptcy, All That Shreds was contacted by an anonymous reader claiming that Benedict’s wife, Karen, is sitting on tens of thousands of dollars in a checking account in her name. They furnished documents that show Karen Benedict with a bank account holding a substantial amount of money.
It would make sense for him to list her as a creditor, and if his bankruptcy is discharged, he can quietly transfer the money back into his name.
We are in the process of seeing if we can get these documents independently verified and send them to the appropriate authorities for review.