Today is Len Dykstra’s 47th birthday, and apparently to celebrate, he’s launched another rip-off investment site to steal your money. (Masochists: find it yourself.)
(Cutter Dykstra: What did Dad Len Do With His $737,000 bonus?)
Case you don’t know, Dykstra filed for Chapter 11 bankruptcy last July, listing fewer than $50,000 in assets against $10 to $50 million dollars in liabilities.
But three months before that filing, Dykstra told Mike Fish of ESPN.com that his net worth was, “60 million.” If that was indeed true, Dykstra succeeded in losing up to $110M in around 90 days.
Dykstra not only hoodwinked the media about his fake investment ability, he may have deceived his son. Cutter Dykstra was the 54th pick in the 2008 MLB draft by the Milwaukee Brewers. For signing with Milwaukee, Cutter received a $737,000 bonus from the club.
In July, 2008, Cutter did an interview with Brewers blog BrewCrewBall.com and talked about what he did with his bonus money.
BCB: You got a pretty hefty bonus–did you dad have any sage financial advice for you?
CD: (laughs) I just gave him my check, and he will invest some of it for me.
BCB: It’s a good thing your dad knows a little bit more about money than Prince Fielder’s. Did you hear about that?
CD: No, I didn’t hear about it. What happened?
BCB: Cecil took $200,000 of Prince’s signing bonus and most likely gambled it away.
CD: (laughs) Yeah, that’s brutal.
On August 30, 2009, a little over a year after Cutter’s now-unbelievably sad remarks about his dad, the HELENA (MT) INDEPENDENT RECORD reported that Len Dykstra was in town to watch son Cutter play for his minor league team.
Somehow, the man last reported to be living in his car - by his own account - managed to somehow get out to Helena, MT. Wonder whose credit card he used? (Hell, he used mine for the same trip a year ago - WITHOUT my OK!)
It was revealed by sources this week that Dykstra had to be removed by police as he was attempting to make contact with his son. It is not clear if the removal took place at the stadium or the team’s hotel, but one thing is clear: It looks like Cutter wants very little to do with his daddy.
I’m not claiming that Len Dykstra lost his son’s bonus money. Perhaps it was “invested” and left alone. Though based on Len Dykstra’s abhorrent track record with business associates, creditors and his now-estranged wife, is it reasonable to surmise that daddy Dykstra may have blown most-to-all of his son’s high six-figure bonus?
UPDATE (3:41p ET): A source with knowledge of Len Dykstra’s financial situation alleges that Cutter’s bonus money was placed “in a joint account in the Atlanta bank that also held Dykstra’s promissory notes on his car wash (business) sales.”
Though the source did not provide the name of the alleged bank, in his bankruptcy filing, Len Dykstra lists a $3.5M debt to Rockbridge Bank of Atlanta, GA.