GoFundMe has said the company is working with law enforcement to ensure Bobbitt gets all the money raised for him and also that the company gave $20,000 to an account set up by Bobbitt's attorney "to provide assistance" to him during the investigation.
"There should be close to another $300,000 available to Johnny", Bobbitt's lawyer Chris Fallon previously said.
But Fallon claims the couple's attorney has acknowledged there is no money left, Philadelphia's WTXF-TV reported.
Chris Fallon, an attorney representing homeless veteran Johnny Bobbitt Jr.,told NBC Philadelphia that he learned the more than $402,000 that was raised is gone in a conference call with attorneys for the couple who headed the campaign a year ago, Katie McClure and her boyfriend, Mark D'Amico. Bobbitt used $20 he had collected from panhandling that day to buy her gas.
McClure and Bobbitt's story quickly transformed into a viral "feel-good" story, and the campaign, as of Friday morning, raised a total of $402,706 within nine months.
A GoFundMe spokesperson has stepped in to issue a vague promise to help Bobbitt get the money that was raised for him one way or another.
Bobbitt claims he only received $75,000 and that the couple spent tens of thousands of dollars on such things as exotic vacations and a new vehicle for themselves.
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During an interview on "Megyn Kelly Today", McClure and D'Amico claim they didn't want to give Bobbitt all the money, fearing he would use it on drugs.
A hearing regarding the disputed funds is scheduled to take place Wednesday at 10 a.m., the paper reported. D'Amico said he kept $200,000 - the amount that remained after paying for the camper, SUV and other expenses - in a savings account that he would gladly turn over to Bobbitt once he kicked an addiction to opioids and managed to hold down a job. They said he stole from them and pawned some of their possessions for cash to feed his drug habit, allegations he denies. Bobbitt was also ordered to be deposed.
She said there was no explanation about the money, other than that they were told "there was no money transferred because there was no money left", and that "it was not up for interpretation".
"We are working with law enforcement officials to ensure Johnny receives all of the funds raised on his behalf", the company said in a statement.
As The Washington Post previously reported, McClure and D'Amico started the crowdfunding campaign after Bobbitt came to McClure's rescue on the side of the road in October 2017. It's unclear how they will determine how the money was spent. "I'll burn it in front of him", he said, adding that giving an "addict" the money would be like "giving him a loaded gun".
Mr Bobbitt's lawyers told the BBC last week that he estimates that the couple spent about $75,000 of the money to buy him a trailer, a pickup truck and clothing.
In a particularly damning quote, D'Amico said he'd "never" give all the GoFundMe money to Bobbitt. McClure and D'Amico now stand accused of giving Bobbitt only a small portion of the GoFundMe donations while recklessly spending the rest. D'Amico told the newspaper he had indeed used $500 from the bank account to gamble on a night when he forgot his Sugarhouse Casino card but had "quickly repaid" the money with his winnings.