It's old news, really - Rich Global, a corporate arm of Robert T Kiyosaki filed bankruptcy. I am not surprised. I read his first book (Rich Dad, Poor Dad) years ago and found it full of misinformation, suggestions of illegal acts (insider trading) wrong ideas as to what is tax deductible, illegal tax treatment of income derived from real estate, and even a few outright, proveable lies.
One of his biggest deceptions was telling everyone there really was a rich dad and a poor dad, and that this was an honest bio. We later discovered that was all a lie, and he has since had to have his books labeled as fiction. Another fiction - his first book claimed he owned tons of real estate, but records showed only two - a modest home purchased before he published his book, and a much more luxurious home purchased after his book sales took off.
I gotta tell ya - I have a real problem with anyone who uses deception to get money from others. Armando Montelongo does it, as I proved before. John Beck's real estate course, as well as John Alexander's were proved to be scams when they lost their lawsuit with the FTC. And Russ Dalbey is being sued by the state of Colorado and the FTC.
It's one thing to offer a substandard product. It is something else again to use deceit to market it.
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