A Repeat of Tragic Life of Bruce Vorhauer...
Posted in the Banking Forum
#1 Jul 13, 2014
Read this: Nestled among the Rocky Mountains in western Montana, a tiny island floats in Salmon Lake.
The island is remarkably isolated, accessible only by boat or helicopter in the summer, or by brazenly driving a car over the ice when the lake freezes over in the winter.
Vorhauer built the 18,000-square-foot mansion in 1984. The new contraceptive device that he’d been working for the better part of a decade had hit the market and the public initially loved it. His company, VLI, went public and he sold some of his stock for millions, giving him the first taste of the wealth he had envisioned, the Los Angeles Times reported.
The late 1980s were filled with infighting at his company until it was sold to American Home Products. Vorhauer netted an estimated $3.75 million, the L.A. Times reported. He moved to Montana full time and started investing in real estate and biomedical companies.
He also took out loans. Many loans.
There he decided to start a political career. He ran for one of Montana’s U.S. Senate seats in 1990. He lost, and was left with mountains of debt. He fell behind on mansion mortgage payments.
In May 1991, a lawyer told him he had 24 hours to pay the more than $1 million he still owed to Dennis Washington, the man who'd sold him the yacht. The mansion was collateral on that loan.
The June day before the yacht was to be repossessed, the yacht burned.
The bank and Washington both seeking foreclosure on the mansion. His debts loomed, and arson and fraud investigations targeted him. In September 1992, Vorhauer filed for Chapter 11 bankruptcy. Not long afterward, Vorhauer drove to his mansion at Salmon Lake. He sat on the lakeshore across from his mansion, connected a hose from his tailpipe to the car window, and sealed himself inside. He died in his 1985 Oldsmobile Toronado on Oct. 1, 1992, according to the Missoulian, the nearest local paper out of Missoula, Montana.
It is the Excerpt of A Typical Tragic Life for Cheaters...I have the feeling that David Cheever will join the Rank soon!!!
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