Lenny = Madoff league, owes 100000x more than what he's worth

Dykstra, 46, has no more than $50,000 in assets and between $10 million and $50 million in liabilities, according to a petition filed Tuesday with the U.S. Bankruptcy Court in the Central District of California.

Jonathan Hayes, one of Dykstra's lawyers, had no immediate comment.

Dykstra's filing comes in the wake of some 20 lawsuits he faces tied to his activities as a financial entrepreneur, including The Players Club, a glossy magazine he had helped launch, according to published reports.

The bankruptcy petition shows several banks among Dykstra's largest unsecured creditors, including units of JPMorgan Chase & Co. and Bank of America Corp.

Dykstra, whose lifestyle included a lavish house, a jet and a Rolls-Royce, says he owes millions of dollars to his 20 largest creditors, many of them banks. His filing follows at least two dozen lawsuits over his business and financial dealings.