More Fuel to Michael Vick’s Fire

- By Bossip Staff Categories: Lawsuits, News, Sports

Posted by Bossip Staff

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Damn, there isn’t a day that goes by where we don’t have to hear this dude’s name. Michael Vick can’t catch no breaks, no wonder he stay chiefin on the reefer. Now there is a 2.3 Million dollar lawsuit against him:

Royal Bank of Canada is suing Vick for more than $2.3 million (U.S.), alleging the suspended NFL star’s recent guilty plea on federal dogfighting charges has caused him to default on a loan. The lawsuit was filed Sept. 20 in U.S. District Court in Newport News, Va. According to court documents, Vick obtained a $2.5 million line of credit from the bank’s Global Private Banking office in New York City in January and drew on that loan to invest in real estate “which is not a primary residence.” The documents provide no other details of that investment but specify the proceeds were not to be used for “personal, family or household purposes.” As of Sept.19, the balance due from Vick was $2,313,694.37, the filings said. Royal Bank is seeking repayment of that amount plus $499 in interest charges per day and legal fees.

“The criminal charges and resulting impact on the defendant’s employment constitute a material adverse change in the employment, performance, condition (financial or otherwise) or prospects of the defendant which materially affect the his ability to repay the term note, and therefore constitute an event of default,” the bank said in court papers. Meanwhile, in Sussex, Va., yesterday, Vick and three co-defendants were indicted by a grand jury on state charges related to a dogfighting ring operated on Vick’s Virginia property. The grand jury declined to indict the three on eight counts of killing or causing to be killed a companion animal. Vick, who already pleaded guilty in federal court to a dogfighting conspiracy charge and is awaiting sentencing Dec.10, was indicted on one count of beating or killing or causing dogs to fight other dogs, and one count of engaging in or promoting dogfighting. Each count is a felony, punishable by up to five years in prison. Royal Bank alleges that Vick is in default for “numerous reasons,” including his failure to promptly provide a semi-annual personal financial statement, a disclosure of his liquid assets and because of a “material adverse change” in his employment. Vick was sent a letter by the bank’s lawyer in late August demanding full payment by Sept. 10 but he still failed to pay, the documents said. The allegations have not been proven in court. A Royal Bank spokesperson declined comment yesterday citing client privacy reasons, adding the matter is currently before the courts.

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Comments

  • NAIS

    Damn! Over some doggs, ni&&as just dont learn!

  • http://www.IStayConfused.com I Stay SMH

    i ain’t readin all that shyt.

    pictures please!

    lmao

  • M-DADDY

    It aint like he aint got it. If he dont got it there is something really wrong here. He need to pay it quick because you know there are more people out there in the process of rapeing his pockets

  • 80sLady

    Wow!NO WONDER HE’S GETTING HIGH. HE’S GOT SOME ISSUES…..I THOUGHT HE FOUND JESUS? HE SHOULD BE GETTING HIGH ON PRAYER NOT WEED!

  • Chillin @ Work

    Wow….They are going to rape him until he relapse into brokeness…….right where he first started before pro.

  • JEROME

    THIS DUDE IS JUST STUCK ON STUPID. HE KNOWS THAT HE IS BEING WATCHED AND UNDER AN ORDER FOR RANDOM DRUG TESTING BUT HE STILLS DO STUPID THINGS LIKE THIS. PATHETIC1

  • nomorebeyonce

    man when it rains it pours. I hope he has truly found God and doesn’t wanna end it all. Talk about the world on your shouldiers. Keep ya head up Vick. You will get thru this. It’s sad they are trying to make you and example..

  • anne

    Unfortunately, this is prolly how this guy always lived his life. Ain’t nothin’ but a thang to him. Remember, “he don’t wanna hear any bad news” as one of his boys told the press about how Vick is.

  • Bahama Mama

    Damn Mike!! when it rains it pours babe……

  • AND...

    Okay enough, let this man alone. DAMN!!1

  • awake

    Damn, they are on him – Why?

  • lacyd

    Boy he has funny looking fingers.

  • JillyBean819

    I’m sure the dogs that Michael Vick killed are laughing in their little doggie graves.

  • finally16nluvinit

    dat oic got ophotoshop written all over it, wit his little hands.come on now.

  • Leah

    Wow, when it rain it pours! Well better days will be ahead (after jail that is, lol).

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