Mixed martial arts fans in Pennsylvania may be interested to learn that the man who coaches champion UFC fighter Ronda Rousey has filed for bankruptcy. Edmond Tarverdyan, who has been Rousey's coach since she entered the UFC, filed for Chapter 7 bankruptcy in Los Angeles on July 29. In the filing, Tarverdyan claimed that he had no income and was more than $700,000 in debt.
Tarverdyan's claim that he earns no income has puzzled many people who are aware that he coaches Rousey. According to his bankruptcy paperwork, Tarverdyan is not employed and earns no money from wages, salary, tips or bonuses. Tarverdyan also claimed that he was not obligated to file a tax return in 2013 or 2014, and he cannot remember when he last filed an income tax return.
The trustee who is responsible for Tarverdyan's bankruptcy case reportedly has some questions about his finances. On Oct. 21, the trustee informed the court that Tarverdyan transferred ownership of his business, GFC Fitness, before he filed for bankruptcy. A person who claims that they are bankrupt is not allowed to transfer valuable property immediately prior to a bankruptcy filing. The trustee also asked the court to order several financial institutions to produce all of Tarverdyan's financial records from as far back as 2008.
People who are found to have committed bankruptcy fraud will not be allowed to proceed with their bankruptcy filing, and they could face other penalties. A lawyer can work with clients who are contemplating filing for bankruptcy to ensure that they meet the eligibility requirements and do not leave themselves open to fraud allegations.
Source: Bloody Elbow, "Ronda Rousey's coach claims bankruptcy, trustee pursues GFC for liquidation," Paul Gift, Nov. 3, 2015