Report: Vick facing allegations regarding bankruptcy
Michael Vick is back in court but this has nothing to do with his birthday party gone bad.
Instead, Vick finds himself in bankruptcy court according to legal whiz Lester Munson of ESPN.com. He has been accused of funneling away his money to friends and relatives in the months leading up to him actually declaring for bankruptcy.
Per Munson, in a 14-month span between October 2006 and November 2007, Vick cashed 67 checks he made payable to his good friend “Cash.” In total, Vick collected more than $750,000 from, get this, 31 bank accounts. That time frame covered the final seven months of his dogfighting ring and the first seven months of the investigation into his criminal activity. Munson breaks down all the checks and reports the smallest were for $1,000 and the largest was for $87,726.48 on March 27, 2007, the eve of the first raid on his kennel operation.
Vick also paid $150,000 to rach of the three lawyers who defended his co-defendants in the dogfighting case. Those guys of course helped the feds convict Vick.
Vick’s attorney has brushed off these recent charges and labeled them a flimsy way to try and get money, but as Munson points out bankruptcy laws forbid a person from stashing their assets before filing for bankruptcy, something called “voidable preference.” Obviously, Vick’s numerous creditors would prefer to get their hands on some of the money that was allegedly siphoned out of his accounts before he threw up the white flag financially.
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