What was John Geddert’s net worth? A look at former Olympic coach’s fortune after tragic death at 63
Former US Olympics women's gymnastic team coach John Geddert died Thursday, February 25. The 63-year-old, who was charged with 24 felonies in connection with the abuse of young gymnasts, took his own life through a self-inflicted gunshot wound. Geddert was expected to turn himself in and be arraigned on the same day he died.
Michigan Attorney General Dana Nessel said in a statement, "My office has been notified that the body of John Geddert was found late this afternoon after taking his own life. This is a tragic end to a tragic story for everyone involved." A release from Nessel's office said that he was facing charges including human trafficking, criminal sexual conduct, and lying to a peace officer. Geddert was the former owner of Twistars Gymnastics Club, where the disgraced physician Larry Nassar allegedly abused hundreds of young gymnasts. Here's an insight into the former gymnast coach's fortune.
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What is John Geddert's net worth?
Geddert was suspended by USA Gymnastics in 2018 after his allegedly abusive coaching style came to light. The club has been since sold and remained. Not much is known about Gebbert's salary or any of his other dealings. But according to Idol Celebs, Geddert was allegedly worth between $500,000 and $1 Million.
From 1984, Geddert served as the head coach at Great Lakes Gymnastics in the Michigan area where he first met Nassar and worked with him. He founded the USA Gymnastics club in 1996. After years of ownership, he handed the club over to his wide Kathryn when Nassar got embroiled in the sexual abuse scandal.
After he was suspended by the club, he was also barred from the gym floor and any USAG-sanctioned events. Geddert announced his retirement shortly after that.
USA Gymnastics Club filed for bankruptcy
Geddert's club filed for bankruptcy in December 2018, just one month after the US Olympic team initiated a process to decertify USA Gymnastics as the official national body of the sport. However, Gebbert's move was questioned by Sen Chuck Grassley, the chairman of the finance committee, asked if the "decertification and bankruptcy announcements were a 'strategy' to appease Congress and the public while not taking any real action." He wrote in his letter, "[I]t is perplexing that you would halt these vital proceedings after informing the athletic community that 'you deserve better,'"
$2 million settlement with Larry Nassar victims
It was reported in January 2020 that the former coach, insurers of USA Gymnastics Club, and its current wonder Kathryn would be paying over $2 million in settlement to Nassar's victims.
This comes in addition to the $215 million proposed settlement between Michigan State University and hundreds of women and girls allegedly based by Nassar.