Kerry Katonas spent the lot

bo_drinker

Kerry Katona calls in cash trouble-shooter to find out how fortune has been blown

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By Tom Bryant, showbiz reporter 13/03/2009

BANKRUPT Kerry Katona has called in a cash trouble-shooter to find out how her celebrity fortune has been blown.
She met “forensic accountant” Frank Cochran yesterday.
It comes a day after the Mirror exclusively revealed Kerry, 28, has split from husband Mark Croft.
Mr Cochran, managing director of Celebrity Financial Planning, arrived at her luxury home at lunchtime.
Speaking to the Mirror afterwards, he said: “It doesn’t take a miracle worker to see how much money this young lady has made over the last four or five years and then see how much she has got left. I’m sorry, it doesn’t match up. There’s something not right. My job is to get to the bottom of this pit and see where the money train goes.
“She has a problem. She’s run out of money and Mark has left her.
“We can speculate about how much money is missing but it could be the case that she’s just spent it.
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“My job is to come in, look at everything that’s gone on and evaluate what’s going on.
“If money has been evaporated away, my job is to find it and see who has been responsible. It will take a few weeks.”
Mr Cochran emerged after the meeting and spoke on the doorstep of the mum-of-four’s home in Wilmslow, Cheshire.
He said: “Miss Katona has been very upset by the breakdown of her marriage. She has appointed us to answer all enquiries regarding her finances. If anyone has information which could be useful I would appreciate them contacting me.
“We will be working to have Miss Katona’s bankruptcy removed.”
Later Kerry – who had told MTV, “Me and Mark are getting divorced. We really are”– could be seen looking upset and crying at her door.
Kerry and Mark bought a fleet of luxury cars but most have been repossessed leaving them with only two earlier this month.

The day before she announces she is broke her bloke walks out..... Nice

VfM4meplse

Maybe she should join MSE. :money:

simpywimpy

sounds like the rat of a hubby has deserted her sinking ship. The paper was saying that her previous financial advisor was a friend of her hubby and has since been jailed for fraud. Makes you wonder then where that money went...

bo_drinker

I t y f a lot went up her nose.

bubblesmoney

maybe post an SOA on the debt board.

too bad people get the chance to make millions and change their lives and they go blow it all in a few years. how the hell can someone go bankcrupt when earning probably a few millions from showbiz etc

sabretoothtigger

Should have bought gold sovereigns

fc123

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

vivatifosi

simpywimpy wrote: »

The paper was saying that her previous financial advisor was a friend of her hubby and has since been jailed for fraud.

So her money wasn't tied up in Iceland then?

bubblesmoney

sabretoothtigger wrote: »

Should have bought gold sovereigns

maybe thats what the hubby did!

probably buried it somewhere so that no lawyer or debt recovery agency can latch on. i wonder how debt recovery works if all debtors get hold of gold coins / jewellery etc and then hide it in a safe place and go bankcrupt. would be a tough job for any agency or forensic auditor to recover the money in such circumstances. probably that method has already tried and tested to the hilt by many.

sabretoothtigger

See mafia cases for things like that. They'll be able to trace the money to the point of purchase of the gold coins and I believe large purchases are recorded as are transfers of cash above 10k

They'll issue some order to surrender the money or in default serve a prison sentence of a few years.



sfo asset stripping bankruptcy case
http://www.sfo.gov.uk/news/prout/pr_366.asp?id=366

epz_2

didnt she get robbed of hundreds of thousands of pounds worth of jewlery (suspiciously, just before their financial woes).

I would have thought some of that money could have covered her creditors.