In another black eye for Newt Gingrich, the flagship of what's known in Washington as "Newt, Inc.," has filed for bankruptcy.
In a Chapter 7 filing in the U.S. Bankruptcy Court, Northern District of Georgia, The Gingrich Group LLC, doing business as the Center for Health Transformation, filed for bankruptcy Wednesday. (Chapter 7 is "the chapter of the Bankruptcy Code providing for 'liquidation,' that is, the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors," as defined by the federal courts.)
The vast majority of Gingrich's net worth is tied up in the Gingrich Group. Gingrich is worth overall between $7.1 million and $31 million, according to his financial disclosure. He lists a promissory note from Gingrich Group as being worth between $5 million and $25 million.
New Jersey Man Slays Child | Human Events
Bad News: Millennials, America's Largest Generation, Prefer Socialism Over Capitalism
'Shots fired!!' @HillaryClinton trolls Marco Rubio, and he hits back
- VIDEO: Sex Ed For Young Kids Rolled Out At CPS Schools
For what it’s worth: Trump 32, Cruz 26, Rubio 20, Bush 10 in private poll of South Carolina
Concealed Carrier Saves Cop Swarmed By "Unarmed" Youths
BREAKING RUMOR. Ted Cruz Trails Trump By Only Six In South Carolina. Marco Rubio Closing the Gap. | RedState