by Burke Speaker | October 30, 2013 8:57 am
A Colorado man told a judge that to avoid paying his soon-to-be ex-wife any of their life savings, he converted $500,000 to gold and dumped it in the trash.
The gold has not been found.
Earl Ray Jones, 52, of Divide, Colorado, announced the revelation during a court hearing, which shocked his wife’s attorney.
“We say that when people are divorcing, they enter a state of temporary insanity,” John-Paul Lyle told the Colorado Springs Gazette. “But on a scale of 1 to 10, this is my 10.”
The strange case began after Jones’ wife filed for divorce, claiming he beat her and held her captive at one point during arguments over the couple’s finances.
In June, Jones was ordered to pay his wife $3,000 a month.
But Jones converted the couple’s life savings — $500K — into some 22 pounds of gold via CMI Gold and Silver.
Lyle said that the transaction with CMI occurred, but he questions whether Jones has hidden the money.
Source URL: http://investorplace.com/2013/10/man-says-threw-500k-trash-avoid-paying-soon-ex-wife/
Short URL: http://invstplc.com/1nuSBof
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.