FTC Claims TV Pitchman Hiding More Money

Filing says Kevin Trudeau has three offshore bank accounts with millions of dollars

By rob Elgas
|  Tuesday, Oct 15, 2013  |  Updated 5:49 AM CDT
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More bad news for TV pitchman Kevin Trudeau.

Officials with the Federal Trade Commission filed a court filing Monday claiming Trudeau is hiding money. The FTC is trying to get Trudeau to pay what has grown to be a $37 million judgment they won against him years ago, and until he provides a full accounting of his assets, they have asked that he be thrown in jail.

In Monday's filing, federal officials claim to have uncovered millions of dollars more in secret international bank accounts and possession of hundreds of thousands of dollars in gold and silver bars hidden from the government, along with an online gambling account.

FTC lawyers say just last year, Trudeaw bought two pairs of cufflinks on eBay for $12,470.99. Trudeau says they were for his wife, even though they're listed under the "Men's Jewelry" category.

In all, federal officials claim Trudeau controls three offshore bank accounts, with $16 million flowing through one account in the first six months of this year.

They believe he transferred $644,727.70 to a Swiss firm for a possible move to Zurich.

Prosecutors haven't been able to locate the gold bars, but believe he has them hidden somewhere.

Monday's filing came as a surprise because the lawyers were believed to have stopped working on the case due to the government shutdown.

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