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Personal Bankruptcy - Story of a Bankrupt Billionaire
Patricia Kluge, 62, filed for chapter 7 bankruptcy this month. She went from simple beginnings in Bagdad, Iraq, to a billion dollar divorce settlement from the richest man in America, and now to a no asset bankruptcy in Virginia.
Presently married to William Moses, the couple filed for joint bankruptcy protection. Their bankruptcy petition and schedules indicate that they have $50 million in debt.
Ms. Kluge's bankruptcy story can be seen as a lesson for Massachusetts bankruptcy clients.
Born in 1948 of a British father who was a legal translator, and a mother who was of Scottish and Iraqi dissent, her parents divorced and she moved to London with her mother and sisters. Rejecting a secretarial career, Patricia Rose, at 19, worked as a belly dancer in London.
She married Russell Gay, the publisher of Knave, a British porn magazine.
Patricia kluge today
She worked as a model for the magazine and penned an advice column. She acted in a racy movie. Klu