Monte Money, formerly of Escape The Fate, has released a blistering statement aimed at Craig Mabbitt’s countless lies and jabs over the past months. Money has also stated that the band is in a state of bankcupty. Read the statement below after the jump.

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“Over the past few weeks, I have become aware of the mis-truths being told by Craig Mabbitt over Twitter, Facebook, and various entertainment sites about my role with Escape the Fate. As ETF fans know, I spent many years of my life completely devoted to the band, and never worked harder at anything to achieve its success.”

“It is not easy to hear the false accusations that I ‘stranded’ the band or that me or my brother Michael are somehow completely to blame for every single thing that is going wrong with the band, or the other nonsense that Craig is telling people. None of this is true at all. Some days I wonder what motivates people who literally make things up just to try to hurt their friends, or in this case, their former friends.”

“It is sad and unfortunate that Craig has resorted to spewing lies and slandering my reputation to get press and attention. It’s beyond childish. Fans need to just ignore everything that is coming from him. Anyone who knows me knows how much I have put my heart and soul into Escape the Fate.”

“What people like Craig don’t understand is that picking a fight with your band members is destructive, not productive – arguing with each other will only drag the whole band into a downward spiral. You have to find a way to get along with your band members and look past minor disagreements, or you will never survive together as a band.”

“Honestly, it is a waste of my time getting into it with Craig – he has shown his true colors and has shown he will say and do anything to justify his behavior. I love making music too much to get bogged down in all of the negativity that is dragging Escape the Fate down. The band’s advisors have been saying that Escape the Fate is bankrupt and that they want ETF to declare bankruptcy because it is so disorganized and mismanaged. That is sad, but I can’t be a part of that – ripping people off is wrong and not my style. I am excited about the new projects I will be working on in the coming months, and wish him nothing but the best. I hope Craig is successful in finding band members that never, ever disagree with him.”