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.

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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