NEW: Canseco Files for Bankruptcy
Wednesday, August 01, 2012
The 1988 American League MVP is seeking liquidation after filing Chapter 7 documents Tuesday in Bankruptcy Court in Las Vegas. The petition says that Canseco lives in Las Vegas, according to the Las Vegas Sun.
The filing lists less than $21,000 in assets and nearly $1.7 million in liabilities. It also says that the 48-year old Canseco owes nearly $500,000 to the Internal Revenue Service (IRS).
Canseco signed with the Tornadoes for $1,000 a month in April, but hasn't played for the squad since being placed on the DL in late June. Canseco was off to a slow start in Worcester, batting .194 in 20 appearances.
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