Dov Charney reportedly too broke for a lawyer

New York - Former American Apparel CEO Dov Charney has admitted to being broke. While he does live in a mansion with eight bedrooms, he currently can't find enough money to keep affording a real lawyer. Charney will now be representing himself in a lawsuit filed against him by Standard General, a primary backer of American Apparel.

Charney told the Delaware judge presiding over the case that if he continues to be unable to afford a lawyer he will represent himself. It's no surprise that Charney's wealth was eaten up by legal fees. Since he was ousted by the American Apparel's board of directors in 2014, he has waged an expensive legal battle to try and regain his position as CEO.

Last month, when American Apparel filed for bankruptcy that didn't helping Charney's financial situation in the slightest. Most of his net worth declined when American Apparel's stocks took a steep decline. His 11,000 square foot home in Los Angeles is perhaps his most valuable asset currently.

Charney was not immediately available for comment regarding his financial situation.

It should be noted that this isn't Charney's first time complaining about his financial situation. In 2014, he told Bloomberg News he was down to his last 100,000 dollars, and he was reportedly sleeping on a friend's couch in NYC. Apparently that proved to be mostly talk since he still has an eight room mansion in Los Angeles.

In his last year as CEO of American Apparel he made 832,000 dollars, so he was far from the poverty line. Last month, a judge ruled that Charney's legal costs would not be covered by American Apparel's insurance, so, his bank account was all downhill from there.