Anorak | James Arthur Ray Is ‘Not A Man Of Significant Assets’

James Arthur Ray Is ‘Not A Man Of Significant Assets’

by | 21st, February 2010

jamesraymugshot5-240x300JAMES Arthur Ray is in the mire. And in jail. He will have his days in court to answer charges relating to the Sweat Lodge deaths, in which three people died at a retreat in Sedona, Arizona.

And before you think too hard about compensatiosn know that Ray is not as  mega-rich as you might have thought. Anorak’s Man in LA reports:

THIS just in from defense attorneys for New Age guru James Arthur Ray: “

Despite misconceptions perpetrated in the media, Mr. Ray is not a man of significant assets and certainly not the millions reported in the press.”

That’s a quote from documents obtained from the Arizona court in charge of Ray’s triple manslaughter case.

The documents are now officially sealed.

All this despite Ray’s purchase last March of a $4 million home in a gated “Beverly Hills Adjacent” neighborhood on Mulholland Drive, populated by the rich & famous (he purchased the home from former pro footballer Rodney Peete and his actress wife Holly Robinson).

The reason for Ray’s recent poor-mouthing? His bail is still set at $5 million, and his attorneys are trying desperately to get that amount lowered.

It’s also perhaps worth mentioning that Ray grossed somewhere around a half-million dollars from last October’s Sedona, Arizona “Spiritual Warrior” workshop alone.

View From Above: James Ray’s $4 million Mulholland Drive home just outside the Beverly Hills corporation limits

Still, his attorneys insist that his bail amount is “excessive and oppressive.”

The documents they filed claim that Ray is has a net worth of negative $4.2 million.

Besides the L.A. mansion, Ray owns homes in Hawaii and Nevada, and rentals in California.

The paperwork filed by Ray lists liabilities of more than $8.5 million, but doesn’t give many details.

Ray had to fill out a financial statement on the day of his arrest. In it, he claimed that he pays out $94,000 a month in expenses – RR

Posted: 21st, February 2010 | In: Reviews Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink