Oddly enough, a guy who is bleeding cash doesn't make one peep about the tax hit that he took in cashing this "401K" of his. He would have at least 10K in penalties. I stand by my belief that this was some sort of trust fund that didn't entail a huge tax hit when cashing out.
Additionally, I don't know too many 27 year old gambling addicts who would have that much socked away. I distinctly remember this guy coming on to Covers about three or four years ago claiming that he was down on his luck and afraid that he was going to have to tell his parents that he was out of money. He hit a big parlay with the last of his funds, and then got hot. That is how he built his name on Covers. So the likelihood of the guy not touching a 401K at that point of desperation would have been incredibly slim.
Oddly enough, a guy who is bleeding cash doesn't make one peep about the tax hit that he took in cashing this "401K" of his. He would have at least 10K in penalties. I stand by my belief that this was some sort of trust fund that didn't entail a huge tax hit when cashing out.
Additionally, I don't know too many 27 year old gambling addicts who would have that much socked away. I distinctly remember this guy coming on to Covers about three or four years ago claiming that he was down on his luck and afraid that he was going to have to tell his parents that he was out of money. He hit a big parlay with the last of his funds, and then got hot. That is how he built his name on Covers. So the likelihood of the guy not touching a 401K at that point of desperation would have been incredibly slim.
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