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Reality Star Files for Bankruptcy Amid Lawsuit, Foreclosure

Mar 1, 2018  •  Post A Comment

A reality television star is mired in a financial mess, with his house in foreclosure, a fraud lawsuit against him and a new bankruptcy filing, according to reports by The New York Post’s Page Six in the past few days. The reports focus on Paul Teutul Sr., one of the stars of Discovery Channel’s “American Chopper.”

The show ran from 2003-2010, and has been on track for a revival due to begin airing this week.

The Post reports that Teutel “filed for Chapter 13 bankruptcy in New York just days before the show was set to air. Teutul filed paperwork claiming that he owes close to 50 creditors $1,070,893.44 and that he was only worth $1,801,729 on Feb. 28, according to court documents obtained by Page Six. He listed that he makes $15,070.93 per month, but spends $12,612.”

The report adds: “Teutul claimed that there is a $32,000 judgment against him and that he owes $151,230.98 to the Town of Crawford, NY, for taxes as well. He also needs to pay $21,300 to different credit card companies.”

The report comes one day after The Post reported separately that Teutel is being sued for allegedly sabotaging the A&E TV project “Orange County Choppers: American Made” in 2015.

“Page Six obtained the Delaware State Chancery Court documents filed in April, which claim that Teutul used Thomas Derbyshire’s investment in an “American Chopper” reboot to fund his personal expenses,” the story reports. “Derbyshire said that he agreed to work with Teutul on the show for A&E in 2015, but their business agreement quickly went south after Teutul tried to change their 51/49 percent ownership deal (benefiting Derbyshire) to a 50/50 deal. Derbyshire had agreed to fund the project up to $3 million at that time.”

The Post reported earlier this week that Teutel’s home is in foreclosure.

 

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