 Spencer also resigned from a consultancy for BIA-COR Holdings Inc., reportedly due to concerns about his repeated arrests for writing bad checks and an arrest warrant for having failed to return a rental car in 1988.In May 1990, Spencer was arrested under the rental car warrant while attending a Braniff Inc. equipment liquidation sale, but he was released after posting a $1,000 bond; Spencer denied that the arrest had taken place and attributed the charges to a "misunderstanding.