Ant Anstead Issues Official Statement After Bankruptcy & Fraud
World-renowned car enthusiast Ant Anstead is facing legal challenges after filing for bankruptcy. Although the reality star is still posting on social media and seeming unbothered, this is a situation that’s likely weighing heavily on him.
Not only is Antstead’s carmaker in trouble, but business partners are also accusing him of seriously mismanaging company money. Things seem to be going well in his personal life, but his professional life has definitely seen better days.
Ant Anstead Breaks His Silence Over Legal Issues
Earlier this week, PEOPLE reported that Ant Anstead’s carmaker, Radford Motors, filed for Chapter 11 bankruptcy. But to make matters worse, he’s also facing serious accusations of fraud and misrepresentation. At the time of publishing, the 45-year-old hadn’t commented on the situation. But now, he’s issuing an official statement.
“Radford is implementing strategic organizational enhancements while maintaining full operational continuity. I remain fully committed to advancing Radford’s vision and growth. My role and dedication to Radford’s success continue unchanged,” Ant told PEOPLE in a statement.
“Along with [cofounder and F1 champ] Jenson [Button], we maintain our foundational commitment to excellence that has defined Radford from day one. As founders, we understand the unique challenges that come with building a premium automotive brand, including the critical importance of having partners whose values and vision align completely with our mission,” he continued.
“Like many entrepreneurial ventures, our journey has presented both opportunities and challenges. Throughout this evolution, our unwavering focus remains on delivering exceptional value to our clients while honoring Radford’s storied legacy. We are grateful for the continued support of our community and remain fully dedicated to advancing the brand’s prestigious heritage.”
The Entrepreneur Knew Radford Motors Was A Massive Risk
In the spring of 2023, Ant Anstead told PEOPLE he knew Radford Motors was going to be a huge game. There was no guarantee of a pay-off, but he wanted to bring his dreams to life.
“This is personally a huge risk for me,” he told the publication. “We have seven people, and we privately funded this. We are doing it. We’re risking everything.”
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Ant’s business partner Pastor “Pat” Velasco filed a $2 million lawsuit against him and another co-founder, Daniel Bednarski in the spring of 2024. A few months later, another business partner alleged both Bednarski and Anstead mismanaged company finances and used money to cover their personal expenses.
Time will tell what comes from this legal battle.
What do you think about Ant Anstead’s recent bankruptcy? What do you think will come from these lawsuits? Leave your own thoughts and ideas in the comments.
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