TV pitchman headed back to jail until he pays FTC.
FTC attorney Jonathan Cohen appeared in court today, despite the government shutdown, because today was "an important moment in the case". And it was.
Judge Gettleman ordered pitchman Kevin Trudeau back to jail indefinitely because, as he said, "I'm at the end of my rope on this one."
The FTC, receiver and defense attorneys spent an hour debating whether or not Trudeau has been truthful about his assets and income, including recent discoveries that five years ago, that Mr. Trudeau purchased $100,000 in gold bars, another $100,000 in gold coins and $12,000 cuff links.
Speaking on his own behalf, Trudeau denied to the judge that he has hidden bank accounts or vaults with expensive art.
"There are not. There simply are not", Trudeau said. "I am willing to do anything ... the receiver asks. I can't prove that I don't have something."
Trudeau says any money his company has made in the last 2 months since the receiver was appointed, has been spent on operating costs. But it wasn't enough.
"I don't have another alternative but to incarcerate you," said a clearly exasperated Gettleman. "When I ordered the receiver, I thought it sent a message loud and clear."
Referring to Trudeau's complicated web of finances and numerous offshore accounts, Gettleman said, "The point we're at today, is exactly what Mr. Trudeau has been planning for years."
Gettleman ordered Trudeau incarcerated indefinitely until he meets four conditions, which include paying back the $37 million he owes to the FTC or that he cooperates fully with the receiver.
"It really saddens me Mr. Trudeau. You're a smart guy. Maybe too smart. Perhaps you've outsmarted yourself. I can't allow this to keep going on," Gettlemen said.
Trudeau will not spend Wednesday night in a jail cell. He is at home, because Gettleman is giving him until Tuesday at 9:30 am to report to the MCC. The reason? So Trudeau can attend his own Legal Defense Fund Dinner being held in Washington, D.C. on Monday night.
"I'm giving you a chance to raise money for your defense. I'm very reluctant to do that," Gettleman said.
When the FTC asked to have him jailed immediately, Gettleman responded, "What's another 6 days?"
Outside of the courthouse, where Trudeau will enjoy six more days of freedom, he said, "I feel good."