The flashy University of Oklahoma grad once talked Morgan Freeman, Willy Nelson and Julia Roberts to endorse his debt-laden biofuels company despite a record of financial failure.
That was a letdown for investors who bought stock in the ill-fated Earth Biofuels after hearing about the company from former celebrity backers Morgan Freeman, Willie Nelson and onetime cheerleader Julia Roberts. (See "Willie Nelson And Star Dust").
Earth Biofuels, the Dallas green-energy firm he founded with the help of A-listers like Willie Nelson, Morgan Freeman and Julia Roberts, has been hit with an involuntary bankruptcy petition in Delaware.