Source: An aging Miami-based playboy, known for his yachts, cars, wine and women, claims he has ‘burned’ through his $90 million fortune and now has just $300,000 to his name, which he is spending at a rate of $50,000 a month.
Thomas Kramer, a high-flying German former real estate investor with a penchant for lavish parties and near-constant vacations, has opened up about how he went from minted to skint in a deposition related to a $108 million, still unpaid, judgement from 2007.
The 56-year-old, who says he has no job and no income, is claiming poverty in the case, and explains he’s made tough choices to reign in his lifestyle, including selling his boats and valuable artworks and instructing his butler, maid and maintenance man to come only a few days a week.
In the deposition, Kramer, who admits to owning two South Beach homes valued at up to $55 million, claims that after selling his Range Rover to a friend who still lets him drive it, his only other transportation is a bicycle his brother bought for him at Costco for ‘149 bucks.’
During the six-hour-long grilling, attorney Charles Throckmorton of Kozyak Tropin & Throckmorton, on behalf of the Swiss tycoon he owes the millions to, asks how in 2013 the apparently hard-up Kramer attended the Golden Globes, went to Universal Studios, traveled to Tokyo, Seoul, Hong Kong, Bangkok and Vietnam, hosted a birthday party in Las Vegas, attended the Cannes Film Festival, attended Elton John’s White Tie and Tiara Summer Ball in England and went to a wedding in Denmark.
‘Actually seven, eight weddings,’ Kramer interrupted, according to ABC News. ‘You forgot them, in seven different countries. Was great.’ He also spent about two months in Dubai last year, where he says he has ’10’ girlfriends. According to the Miami Herald, he also spent at least three weeks in Doha, Qatar, staying at Prince Ali Qatar’s palace, and stayed at his friend Christian Jagodzinski’s home in Saint-Tropez.
Kramer, who is credited with helping to redevelop South Beach, says at one time he owned 20 properties ‘among the most expensive real estate in the U.S.’ but that business reverses and the 2007 judgment against him saw his wealth dissolve.
He claims he manages to fund his still-decadent lifestyle with his father’s inheritance. He received some $3.3 million after his father died in 2012. ‘That’s why I spent $2 million [last] year,’ he says in the deposition. When he needs cash, he told Throckmorton that he calls ‘Noman,’ a banker in Dubai and has it wired to him.
He’s then asked in the deposition, where all the proceeds from his boats, cars and paintings went. ‘Into the burning account,’ he says and when asked to clarify he adds, ‘Burning like whoosh it goes, and the money is gone.’
Kramer, who on his LinkedIn page calls himself a ‘Global Networker- Philanthropist-Real Estate Visionary & Public Speaker,’ earns some money from renting out the backyard of one of his Star Island homes for photo shoots and charity events.
But he says he has $3.8 million in unpaid bills, including $1.8 million in real estate taxes.
‘What am I supposed to do with (the remaining money)?’ He asks. ‘Throw [it] up in the air, [so] who catches it is paid, and I shoot myself? No thank you.’
Kramer says he will ‘declare bankruptcy, probably’ when the $300,000 runs out.
But when he’s reminded that bankruptcy doesn’t provide an income, he says he’ll live ‘off my friends and family.’ ‘I’m everywhere invited,’ he says. MailOnline contacted Kramer for comment but he has not yet responded. His attorney declined to comment.
I don’t think anyone has EVER been more “about that life” than Thomas Kramer. Just not paying the millions of dollars he owes in back taxes and legal judgments while blatantly flaunting his opulent lifestyle in the faces of the people he owes. Pretty much the most epic adult rendition of “nanny nanny boo boo you can’t catch me!” that I’ve ever heard of.
I mean, the dude owns 2 mansions in Miami worth $55 million and claims all he has in terms of his own transportation is a $149 bike from Costco. Then he gallivants around the globe running through models and taking photos so douche baggish they would make a frat boy blush. And how about the epic timing of his father’s death?!?! Thank goodness for that. I mean just when Thomas was probably getting a little worried that the fun parade was winding down as his cash dried up daddy up and died and left him a cool $3 million to keep the party going! Talk about divine intervention. Just call up “Noman” the banker and get the cash wired to whatever tropical spot is home this week.
Also gotta respect how Thomas had the balls to correct the lawyer during the deposition and point out that he didn’t just attend one wedding, but actually 7 or 8 of them. I respect his hustle. Dude clearly gave it 110% during wedding season. I also love his explanation that all of his cash when into his “burning” account. So good! Can’t you just imagine him slyly saying in his German accent,“Burning like whoosh it goes, and the money is gone.”? He might as well have told the deposing lawyer to go screw himself. What I would have given to be a fly on the wall for that conversation.
PS: ‘I’m everywhere invited,’ is the new “Do you know who the hell I am?”