$10,500,000. M56 Place LLC, a New Mexico limited-liability company, paid cash for a seven-bedroom, 10-bath, 17,015-square-foot home, which includes a 1,854-square-foot guesthouse and 3,000-square-foot pool, built in 2009 on nearly 5 acres at Mummy Mountain Estates in Paradise Valley. ... The home was sold by BMO Harris Bank of Milwaukee, after original owner Phillips W. Smith returned it to the bank to avoid foreclosure. In 2001, Smith bought Taser International Inc. He has been chairman emeritus of Taser since October 2006 and served as its chairman until then.
Fancy house built in 2009, but he couldn't afford to keep it.
Tom's gone AWOL. Pappa suffering financially.
Karma's a bitch, eh?
See also [LINK].
... 35,000-square-foot mansion in Paradise Valley sold for $10.5 million... The house, situated on 5 acres, was once owned by Phillips Smith, former chairman of Taser International. He gave the home back to lender M&I Bank in 2011. ... The house was originally listed for $20 million, and then lowered to $15.9 million. ... Smith lived in the home and maintained it until the sale... [in late-March 2012]