If you look at the case file it appears to me that the filings by TB are rather cursory, as if he does not really wish to be bothered. Still the same arrogant SOB as he was when he was pushing LOCH shares. Chuckling with Marshal Gandy.
Depending on the Judge, if he is trying to hide assets, it is a federal offense and the FBI would be called in to try to uncover the real truth. It is usually a bad idea to try to play footsie with Bankruptcy courts.
On a chapter 7, the idea is to surrender all assets except those exempt under Florida and Federal law, and the referee
then distributes those assets to the creditors. "Fresh start", and all that nonsense.
I doubt that the Court would accept "too busy day trading' as an excuse if the IRS was taking him to court on fraud. But this is not a trial for fraud. Different court, different procedures. As it is right now, the IRS is just another creditor on the list of creditors..as least so far as the Bankruptcy proceedings are concerned.
That could change rather quickly, though.
But like nearly all scamsters, he has a lot of personal charm, and has the knack of being sincere, even when he is not. He no doubt also has pallys with influence here and there. He played a part in the Real Estate boom that is the "Gold Coast" of Florida.
But I believe, even though they have agreed "pro forma" to give him more time, that his butt is in a major sling, and he could ultimately face time away from home and hearth.
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