In court papers filed with the bankruptcy court, Jeffrey Parsons and his company, THR and Associates, are heavily in debt to a list of creditors that is almost 400 pages in length.  One of the debts is to the Illinois Department of Revenue for more than $453 million in payroll taxes.

At the meeting of creditors held in October, Parsons testified about the debts and assets of the company.  He also answered questions about how the company had made so much money only to lose it all and more.

For more details you can read, “All gone – Parsons says he’s broke.”