James Ray’s Harmonic Wealth More Harmonious with Bad Investments

James Ray, the self-help cult leader who caused three of his followers to die in a retarded home-made sweat lodge is famous for his teachings on “Harmonious Wealth” and the “Laws of Attraction.” I guess all James Ray has really been attracting is busloads of bill collectors. His dumb-ass is too broke to make bail.

Boo Hoo story is from the PostChronicle here:

The guru charged with manslaughter in the controversial sweat lodge death case is unable to make bond, claiming he cannot come up with the $5 million needed to get out of jail until his trial.

James Arthur Ray has long proclaimed his supposed wealth and successful business, claiming to have made $10 million in revenues in 2009, and over a million dollars advanced on his book “Harmonic Wealth” reports Forbes.com. His website is extensive.

But court documents reveal that Ray is severely in debt with a net worth of minus $4.2 million. Real estate makes up about $3.1 million of Ray’s total assets of nearly $4.2 million, but he has little equity in his properties.

The motivational speaker charged in the deaths of three participants in an Arizona sweat lodge ceremony pleaded not guilty on Feb. 4.

James Arthur Ray was charged with three counts of manslaughter. Bail was set at $5 million. A hearing was scheduled next week on a defense motion to reduce Ray’s bond, one of his lawyers, Brad Brian, told CNN. Brian said Ray cannot pay $5 million.

He has the cash. He is already putting on a front to avoid paying out in the upcoming multi-million dollar lawsuits he is also attracting. Lawsuits are harmonic too, I guess!