Danny Trejo has “filed for bankruptcy” to “reorganize his assets” and to help deal with his “$2 million tax bill” after “years of falsely claiming deductions.”
The 78-year-old actor starred in the Hollywood blockbusters Machete in 2010, Spy Kids in 2001 and also starred as Tortuga in the hit Netflix series Breaking Bad.
Although his film career continued into his later years, Danny was kept very busy with his various grocery stores, including Trejo Tacos and Trejo’s Coffee and Donuts in Las Vegas.
However, according to TMZ, the star files for Chapter 11 bankruptcy, known as a “reorganization bankruptcy,” which allows a company to stay in business and restructure its obligations.
The publication reports that the filing was made to deal with his massive tax bill, which is said to total around $2million (£1.6million).
Bankruptcy: Danny Trejo has “filed bankruptcy” to “reorganize his fortune” and to help deal with his “$2 million tax bill” after “years of falsely claiming deductions.”
Danny reportedly told TMZ that he “falsely claimed deductions in the years that caught up with him.”
They added that he “jokingly” revealed that he now realizes dog grooming is not “a legitimate expense to write off.”
The nature of the bankruptcy means his various businesses, which include his record label and his numerous Los Angeles restaurants, will not be affected.
His businesses are owned by businesses that “he created to operate.”
Danny added that he expects to be debt free by 2024.
His Hollywood career has slowed in recent years, but he was honored with his own life-size wax figure at the world-renowned Madame Tussauds museum in November 2021.
The performer was also present at the unveiling of the creation and appeared ecstatic as he addressed a crowd that had gathered to see the statue.
The statue also featured an impressive array of fake tattoos that closely resembled those of the Spy Kids actor.
Star: The 78-year-old actor has starred in Hollywood blockbusters Machete (pictured) in 2010 and Spy Kids in 2001, and has also starred in the hit Netflix series Breaking Bad as Tortuga
The Desperado actor notably snapped several photos while holding a machete and posing next to the wax figure.
According to ABC7, a group of artists spent over half a year designing and constructing the statue.
The performer also opened up to the news outlet at the event and appeared stunned by the gesture, saying: “I don’t know what to say.”
Trejo later spoke to KTLA after the unveiling of the statue and told the media about his impression of the character.
Actor: Although his film career continued into his later years, Danny has been very busy with his various grocery stores, including Trejo Tacos and Trejo’s Coffee and Donuts in Las Vegas (pictured in Machete Kills in 2013) Businessman: But according to TMZ, the star, files for Chapter 11 bankruptcy, known as a “reorganization bankruptcy,” which allows a company to remain in business and restructure its obligations
The actor remarked that “it was kind of scary, but they made him look better than me, so that was cool.”
When asked for his opinion on the statue’s construction, he said the artists who worked on it “did a really good job.”
The Blood In Blood Out actor then expressed that he was at a loss for words when asked to speak at the character’s unveiling.
“It was so humbling, and I’m usually pretty good at just giving wings to a speech, but when I saw that I was just speechless,” he said.
Honored: His Hollywood career has slowed down in recent years but he was honored with his own life-size wax figure at the world-renowned Madame Tussauds museum in November 2021