Russ Whitney settles Pete and Tony Youngs lawsuit just before he is forced to reveal his net worth Pete and Tony Youngs were associates of Russ Whitney. They were even members of his "Power Team" featured in the back of his "best-selling" book Millionaire Real Estate Mentor. I put "best-selling" in quotation marks because Whitney sold the books to himself in effect. See my article on the bogus way he created his "best-seller." The Youngs sued Whitney, Whitney Information Network, Inc. and David Keller for violating their copyrights. In the course of the litigation, the Youngs apparently demanded documents showing Russ Whitney' net worth. He apparently refused to provide them. Apparently, Russ Whitney settled out of court rather than disclose his financial information, which strikes me as rather odd for a guy who has been bragging about his financial success for decades. I mean if he had been a low-profile guy, it would make sense. But he has been and continues to be just the opposite. Also, unlike any other real estate guru, Russ Whitney has a publicly traded company so he has to disclose all his income and expenses in SEC filings that are available for all to see on the Internet. Some might say he is being smart for asset-protection reasons. Bull! The smart asset-protection strategy is to not going around telling everyone how rich you are for 25 years. In fact, Russ Whitney may have a lot less money than people think. The guy is not that bright. By bragging about being a big financial success, he may actually attract lawsuits that would not have been aimed at him had he not bragged. Cases like this one and the Matt Gagnon case make it look like litigating against Russ Whitney is a fairly simple matter. Just notice Russ' deposition or serve some discovery requests upon him, and make sure you are not standing between him and the exit when you do. You could get trampled. John T. Reed, a.k.a. John Reed, Jack Reed, 342 Bryan Drive, Alamo, CA 94507, Voice: 925-820-7262, Fax: 925-820-1259, www.johntreed.com
Russ Whitney - scam alert!!
Russ Whitney settles Pete and Tony Youngs lawsuit
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