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April 23, 2014, 5:33 pm
970 WMAY News

Area Businessman Files Chapter 7 Bankruptcy


The founder of the now-defunct Treasure Hunters Roadshow has filed bankruptcy, with court documents indicating he has liabilities of over $100 million dollars. Jeff Parsons filed late Monday under Chapter 7, indicating an intention to liquidate his business holdings, rather than attempt to reorganize.

 

Parsons filed bankruptcy after being pushed by the judge in his divorce case, in order to obtain a full accounting of Parsons’s holdings. The filing lists 17 business names that Parsons is using or has used, and notes assets of 10- to 50-million dollars and liabilities of 100-million to 500-million.

 

A number of Parsons companies have closed down in recent weeks amid allegations of bounced checks, fraudulent business practices, and unpaid taxes.

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