North Dakota: Owner Of Glasser Images Files For Bankruptcy
I'm sure you've heard about all the controversy surrounding Glasser Images. Clients and photographers have been coming forward, saying they're not getting paid and/or cannot get refunds. This has been an ongoing issue for quite some time.
Coming To Light
Earlier this year, in May, North Dakota Attorney General, Drew Wrigley, became aware of the situation after complaints were filed with the Consumer Fraud Division. Wrigley filed a lawsuit, and an extensive investigation took place.
"...Glasser Images had been experiencing serious financial problems for years but falsely blamed the business closure on the pandemic,” said Wrigley.
Wrigley said the investigation found that the owner of Glasser images had been living a lavish lifestyle despite the company's growing debt.
“Despite the business’s serious undercapitalization, Jack Glasser continued to borrow from banks, the government, friends, and family, while simultaneously enjoying a lifestyle of high-end dining, travel, and luxury vehicles, all at the expense of his business customers," said Wrigley.
This information is available on attorneygeneralnd.gov.
A couple went as far as going on the Dr. Phil show to share their story and express their frustration with the situation. The media coverage continues.
Filing For Bankruptcy
According to the Bismarck Tribune, Jack Glasser of Glasser Images filed for Chapter 7 bankruptcy. This source says Jack Glasser owes money to 50 creditors, totaling $4.06 million.
This source also says Glasser owed his landlord $25,000. Not only that, but customers who've filed complaints are said to be owed a total of $1.4 million.
This is such an unfortunate thing that has affected so many people in our community. We'll keep an eye on this story and see what happens in the future.