Levi Johnston: Bristol Palin's ex is broke and living with mom

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levi-johnston-bristol-palin-sunny-oglesby.jpgDespite once gracing the cover of Playgirl, Levi Johnston -- the estranged father of Bristol Palin's son Tripp -- is apparently broke and living with his mother in Wasilla, Alaska.

"Levi made more than $1 million and squandered it on guns, boats and four-wheelers," a source tells Us Weekly.

Johnston, 22, has been mired in legal problems with Palin for alleged failure to pay child support for three-year-old Tripp. He's also expecting a second child -- already named Breeze Beretta -- with new girlfriend S unny Oglesby.

Johnston also recently split ways with longtime manager Tank Jones, who tells Us he just wanted to work on other projects but adds that Levi is "doing great."
Photo/Video credit: Getty Images