A Little History

Rod Gilstrap has always had big dreams of being the next Garth Brooks, a big country music star. He borrowed THOUSANDS from family, friends, and local businesses under a guise of  buying investment properties. In reality he used the money to finace the lifestyle of a country music star, although he isn't and wasn't.  

Rod Gilstrap filed for bankruptcy on 9-22-2015. Claiming debts of over $700,000.  YES that's SEVEN HUNDRED THOUSAND DOLLARS.

of that 700k, over $500,000, YES FIVE HUNDRED THOUSAND DOLLARS was listed as personal and business loans. Some to buy investment property (more on that later).  

Now a direct quote from the bankruptcy petition states "I declare under penalty of perjury that the information provided in this petition is true and correct". Under that Rod Gilstrap signed his name. Now it says the "penalty for making a false statement: Fine up to $500,000 or imprisonment for up to 5 years or both 18 U.S.C. 152 and 3571". 

Here's where things start getting interesting. Let's start with personal assets. There are NO investment properties listed. Bought, sold, Nothing. So where in the world did the money borrowed for "investment properties go?

Now Rod Gilstrap lists no golf clubs as person assests either,  BUT in June, July and August of 2016, he played in 3 tounaments at Teton Lakes in Rexburg, and did quite well. He and his partner tied for 3rd in one, won 5th place in another and by golly won 1st place in the August Taylor Chev tournament. Also won a "sweeps" and closest to the hole and a "skins" game. Total winnings around $2200. Amazing how a guy can golf that well without his own clubs. Wonder who's keeping score??

Also Rod lists NO rifle, binoculars or spotting scope for personal property. Take a look at his facebook page from fall of 2016. Even though he was under equipped he did quite well. Posting pictures of a bear, elk and antelope.

Not only is it amazing how he can do all this without equiptment. How does he finance it?  On the bankruptcy petition, under the same penalty of perjury, he lists his income and expenses. He swears his expenses are $85 MORE than his income each and every month. So with no money how does he do the following?

Pay aprox $3000 to record a music CD at I E Productions in Idaho Falls. How does he pay entry fees of aprox $100 each to play in golf tournaments? How does he afford to go hunting? All of the folks he owes sure wish they could afford to live like this. 

Rod has several judgements against him, but by filing bankrupcty, if it is granted, all but one of  them are washed away and his creditors screwed. The one that won't go away is to the Idaho Dept of Labor. It seems that Rod claimed fraudulant un-employment benefits from 2010 to 2012 to the tune of aprox $26,000. So even with all the money he "borrowed" from people he still needed more. At least he'll have to pay that one back.

In summary there are aprox 22 relatives, (ex) friends, and local businesses that total over $500,000 that Rod borrowed money from that will not be paid back if bankruptcy is granted and they are only the one's listed. How many more of his "victims" are out there? Hopefully anyone in the future will do some research before lending him money.