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Controversial School Budget Chief Suffers Personal Financial Crisis

Team 5 Investigates Uncovers Chapter 7 Bankruptcy Case

POSTED: 5:55 pm EDT July 2, 2008
UPDATED: 8:28 am EDT July 3, 2008

The man at the center of the Salem, Mass., school budget crisis now has personal financial troubles as well, court records show.

City officials blamed Bruce Guy, the former Salem school finance director, for a $5 million budget deficit.

Watch Report | Read Bankruptcy Filing

Team 5 Investigates obtained federal court documents that confirm Guy was granted Chapter 7 bankruptcy protection Tuesday.

The records show Bruce Guy and his wife Patricia, of Beverly, owe more than $87,000 for 34 credit card accounts. Court records show the couple also owes more than $10,000 in state and federal taxes.

The court also required Guy and his wife to complete a "course in personal financial management."

Guy's school contract was not renewed last fall. Salem officials later blamed Guy's mismanagement for the deficit, which resulted in 33 school layoffs.

A spokesman for the Salem police told Team 5 Investigates that detectives have been investigating the school budget situation, but no charges have been filed.

Guy's bankruptcy lawyer did not return a phone call for comment.

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