NPI's Cascadia Advocate

Offering commentary and analysis from Washington, Oregon, and Idaho, The Cascadia Advocate is the Northwest Progressive Institute's unconventional perspective on world, national, and local politics.

Friday, February 22nd, 2019

Tim Eyman, broke? Nope! Try flush with cash — he’s got $465,615 in his checking accounts

When Tim Eyman declared bankruptcy back in November of 2018, he told his followers, the press, and the public that it was “my only option” and that he was at “the breaking point” because of “the government’s brutal six year persecution of me and my family” (a reference to the State’s campaign finance suits against him).

Citing mounting legal bills from his attorneys and a postponed trial date (a delay caused by his own stonewalling), Eyman declared to the world that bankruptcy (along with divorce from his wife Karen) was the only possible way forward.

But what Eyman neglected to mention in that woe-is-me email and in subsequent emails pleading for money to his legal defense fund is that his bankruptcy filing is based on the assumption that Attorney General Bob Ferguson’s office will be successful in winning a very large, $2.1 million judgment against him.

That hasn’t happened yet and it can’t happen before January of next year, when the trial in the main State of Washington v. Tim Eyman case will take place. It is possible that Eyman and Ferguson could reach a mutually acceptable settlement agreement beforehand that entails Eyman paying a large penalty, but that seems unlikely.

In the meantime, despite having filed for bankruptcy, Eyman has plenty of money available for his needs and wants, despite his I’m broke, please help me act.

How do we know? Because a consequence of filing for bankruptcy is putting your financial cards on the table (so to speak). Eyman is required to regularly share information about his finances with the United States Bankruptcy Court.

According to the latest report he filed, dated February 11th, 2019 Eyman has $465,615.94 in checking accounts at three financial institutions (Bank of America, KeyBank, and Heritage Bank), $3,755.53 in his savings accounts, $207,571 in retirement accounts, and $573,281.56 in additional personal property.

He also lists his Harbour Pointe home as an asset, valued at $900,000.

Against these total assets of $2,150,224.03, Eyman reports $3,177,000 in unsecured debt. Again, most of that unsecured debt is a possible future judgment against him for campaign finance violations he could have easily avoided.

For the month of January 2019, Eyman reported total disbursements of $17,842.80 along with $29,626.16 in receipts, which he describes as “gifts for legal defense fund for legal costs, bankruptcy costs, and other government charges”.

View the first four pages of this report for yourself below:

Tim Eyman's February 2019 Monthly Financial Report For Individuals Not Engaged in Business

It is clear from the documentation that Eyman provided to the court that he and his wife Karen (who are not yet divorced) have the means to enjoy life and take care of not only their needs and children’s needs, but wants as well.

The Eymans dine out frequently at fine restaurants, occasionally spending hundreds of dollars in a single outing. They goes out to the movies. They appear (judging from their cable bill) to have one of the best packages that Comcast offers. They shop often, too, at stores like Nordstrom, Hobby Lobby, and… yes, Office Depot.

Like his idol Donald Trump, who has a long history of exploiting federal bankruptcy statute for his own gain, Eyman’s objective once again appears to be evading accountability for his wrongdoing so that he can keep his initiative factory in business for years to come and continue to enjoy an affluent lifestyle.

It is really a shame that legendary KOMO commentator Ken Schram isn’t around today to give us his take on all of this. Schram, who passed away in 2014, was one of the very first people in Washington’s mass media to see right through Eyman. Schram regularly denounced Eyman as a con man, a phony, and a scam artist, picking apart Eyman’s frequent fundraising appeals in biting commentaries.

Here’s one of those commentaries, from July 11th, 2002… a time when, like now, Tim Eyman was in legal trouble for violating our public disclosure laws.

KEN SCHRAM: I’m tryin’ to iron out this new Tim Eyman wrinkle.

Let’s see if I got it right:

Tim’s asking people to send him money to bail him out of the trouble he’s in for taking money that at one time he said he never took.

Now, since Tim certainly couldn’t pay taxes on money he lied about taking, he’s in that hole.

And, since he got caught with campaign dollars stuck to his fingers, Tim’s also being sued by the state.

Which means he’s got legal bills and fines likely lurking in his future.

And so, that’s why Tim has come back to the people whose money he took, asking them to send him more money.

I’ve now got a whole new image of Tim now.

I see a Tim who’s not too proud to beg; a Tim who’s not afraid of stooping to new lows.

I see a Tim who’s not ashamed to say, ‘Sure, I took your money before and lied about it. But send me your money now and I’ll tell you the truth: It’s for me. All of it. Every penny goes into my pocket.’

Me? I think Tim can go out and earn all the money he wants.

He should just hit the professional tennis circuit.

He’s already got all the racket he’ll ever need.

Seventeen years later, history is repeating itself… on a grander scale.

Adjacent posts

2 Comments

  1. I too get Eyman’s pleas for cash. Frankly I really wonder how an initiative purveyor can have over $400K in his checking, a substantial savings account and dine out as much as he does. Heckfire, if the bill for lunch or dinner when I travel is over $10 I shudder.

    Gee, I wonder how much of the $$$ for initiatives went to Eyman himself. At least it wasn’t my money!

    # by Joe :: February 23rd, 2019 at 12:32 AM
  2. I hope he ends up cooling his jets behind bars for a little bit as a result of this.

    # by Matilda Macmillian :: March 15th, 2019 at 8:51 PM