: SOUTH BEND, Ind. (AP) - An Indiana bank sued suspended Atlanta Falcons quarterback Michael Vick for not repaying loans involving a car rental business.
1st Source Bank of South Bend said in a federal lawsuit it suffered damages of at least $2 million because Vick and Divine Seven LLC of Atlanta had refused to pay for the vehicles. The lawsuit seeks unspecified damages.
Last week, the Royal Bank of Canada sued Vick in federal court in Virginia for more than $2.3 million that it said he had planned to use for real estate investments.
Vick pleaded guilty to a dogfighting conspiracy charge in federal court last month and was indicted Tuesday on state charges in Virginia related to the dogfighting ring. He faces up to five years in prison on the federal charge when he is sentenced Dec. 10. He also has been indefinitely suspended by the NFL.
A message was left Friday at the law firm representing Vick in his criminal cases.
Vick signed loan agreements as the chief financial officer of Divine Seven, which bought at least 130 vehicles, including many Kia Spectra and Ford Taurus cars, through 1st Source Bank loans, according to documents filed in U.S. District Court in South Bend on Wednesday.
A phone call Friday to a number listed on loan documents for Divine Seven was answered by a clerk at a Payless Car Rental office in Atlanta. The Associated Press left a message there for Art Washington, who signed some of the loan documents as Divine Seven's CEO.
According to the lawsuit, 1st Source Bank made a written demand for payment Aug. 24, but Vick and Divine Seven have "failed and refused to pay."
The bank has been able to repossess most of the cars, which will limit Vick's financial liability in the lawsuit, said John Griffith, the corporate counsel for 1st Source Bank.
The lawsuit said Vick and the company agreed to their first loans with the bank in January, about three months before authorities began investigating his involvement in a Virginia dogfighting operation.
LoL @ Bashy.."Negroidian"..I like that word. Think it's gonna be my new word of the day, LoL. ANYWAY,I'll never understand why these millionaires don't just pay straight CASH for things. I mean....if I have 100 million in the bank (just an example...don't know HOW much that negro got now)..and I want something that cost 2 million...then I'm just gonna write a check for 2 million. Idk....he's all over the place. Killin dogs for losin fights...and he play for the FALCONS?!?! Sheesh..... Just another example of having the wrong people around you...and apparently, a REALLY bad accountant! <my 2 cents> :-)
First of all, WHy are people asking what was he doing with 100 cars? Doesnt it say for a car rental business? Idiots! Ever heard of Enterprise rental cars? Well that obviously is what hewas trying to do, start a business which i commend him for that, but it seems that Karma is a ***! Truly I was mad when I heard he killed dogs. I been to dog fights and it is barbaric and I dont like it. I am an animal and people lover and I dont think its cool to inflict pain on anyone. Especially us as black people should remember what it is like to be beaten and what not but hey a *** get some mopney and they think rules dont apply to them so to hell with Vick he deserve everything he get even a stiff one in the ***. Plus didnt he give someone herpes??
For those of you all that don't know, the man probably couldn't afford the bill, this really *** be news....the Atlanta Falcons are trying to get back a large portion of his signing bonus, and he did NOT receive all of his salary, this is the NFL, you are not guaranteed any salary unless you are a veteran player on the first game roster, at the beginning of your 5th year in the NFL. Sorry to quote the NFLPA rule book, but I'm married to the game, what can I say...It's a shame, all of this mess will probably make him go bankrupt. I feel horrible for this man, he obviously was surrounded by people who wanted to use him and he trusted them. Very sad.
And one more thought...remember, for every million dollars, cut it in half...Uncle Sam takes approx. $400,000 and the agent gets approx. $100,000. Now factor in all the begging relatives giving you guilt trips to buy them cars, pay rent, bail them out of jail, etc., and a million dollars can go REALLY REALLY quick. It's always easy to judge what a person should do with a large amount of cash, but until you are in the same situation, you'll never know...and the type of bonus Mike had, was not protected, a.***.a., if he did something like this, they could try to get it back...
@kimkelmor:
Please believe me, this man HAD to be surrounded by bad people...he most likely doesn't sit down like you or me and write out his own bills. So, I'm sure he might not have even been aware of the bill being in default. Therefore, if he's just finding out about it now, they might not have any hopes of it getting paid anytime soon. He was probably supporting tons of people as well as keeping up his own expenses, and this was probably not his only business venture...so I'm sure this won't be the only lawsuit we see against him. They might as well not waste their time & money in the court, he'll probably have to file bankruptcy after all this anyway...Sad.
accounting 101; you dont start a business with your own *** money for all those wanting to know why he didnt just pay the money in the beginning. Most businesses fail within the first year then you can file bankruptcy on that business and not lose to much of your personal money. The cars are collateral against the loan. At least he did learn *** in college.
what's hilarious is some of you calling him stupid, then asking why he has 100 cars. YOU are stupid b/c u can't read (article clearly says he was starting a car rental biz). u can't talk ish on someone when u can't comprehend an article on MTO written at a 6th grade level. furthermore, what someone is WORTH is not equivalent to CASH MONEY. most people's worth is in real estate. they would have to liquidate those things to have that amount in cash
adamlie broke down one biz fact for you.
@hippiechic
nice word...I had to look it up too...
Just for the record, Im black and I drive a 1998 Toyota Corolla...
Mike Vick is an azzhole though, you are right. What the hell does someone need with 100 cars? He could have been investing that money to help empower Africans here and in Africa to build roads and infrastructure.
White folks love their dogs...White folks wont rest until Vick is hanging outside of Grady Hosp. asking for change to buy a cheeseburger. Black folks may be ostentatious but white people have *** with their dogs.
wait a minute...after reading the rest of the posts, I just found out the cars were for a car rental business...Im going to learn to start reading MTO's articles...
Sometimes I just bypass MTO's *** because their journalism is a joke and go right to the comments which is the truly enlightening part of this website...
Mike, I apologize.
Mike you only need one maybe two cars, you're being extremely "extra" right now......but I swear they are being extra unfair to you right now......a white man in NC did the same thing to his animals and it's no major headline nor punishment, but a young, black, rich, athlete does it and they want to make an "example" of him....What you did to those dogs are wrong and you should be punished, but not like this.....A white 18 boy here in NC was drinking and driving and killed his black 18 friend, waited over 20 mins to call the police cuz he was "scared" the black kid died and the white boy recieved like 365 hrs of COMMUNITY SERVICE!!!!! mind you he killed someone, Mike killed some dogs and they are trying to give him 5 yrs......*** what a comparison!!!! let the punishment fit the crime! But Mike, you still wrong....you dog killer!
Unfortunately, this is true. My aunt works at the rental car company that was owned by Vick. This is so messed up but he brought it on himself. When you have money like these atheletes, actors/actresse and muscians you can't just go around thinking you're invincible. Another thing I wanted to say is noone made a big issue when Patrick Kerney so called loaned his home in Buckhead to some of his NFL buddies and 2 girls were raped. Just to let you know that race is an issue.
Yall get off Mike dang yea he wrong for what he did, its pleanty of other peeps that have been involved with dog fighting , but they didnt get the same treatment as mike is getting, he just a black man with a lotta money and they tryin to strip him down to nothing, but thats what "man" will do to you build u up, to take u down!! ive seen cases where this one man in GA literally poored lighter fluid on his dogs and set them on fire!! yet he still walkin around a "FREE MAN" so u tell me whats wrong with that picture other than he is"WHITE" justice is justice and it sould be given to all mankind not a particular race of people i could go on and on , but peeps just think about it could be someone in your family put through the same ridicule , what would you say then? you would want your loved one to be given the opportunity to redeem him or herslef too!!!
Mike I will be praying for you. No doubt that you were wrong but this is nonsense at its best. They are really trying to stick him because he is black and I dont care what anyone says who disagrees with me. It is my opinion. My stepdads friend had more dogs, 4 kilos and 100 grand in cash but only got 2yrs and paper please people wake up. Everyone makes mistakes we are all human
All I have to say is this is a very good example of why some black ppl can never stand by each other.All of these white mu-*** can kill a whole town and get away with the *** because they had there white supremises on all four sides of them and even if some of them knew the person was guilty of what ever the crime was it didn't matter,they were white and that was good enough. Thank you @Benalizx and @Ebonyblanco at least we have a few ppl that will still stand up for our ppl.
Like I said Mike Vic made a mistake and who are some of yall lame azz bytches to constantly judge him as if you are the ALL MIGHTY.He just smoked some weed,gotdamm and some of you ppl who think you are angels have smoked and did all kinds of *** and some is still in the closet.This is some *** and they need to leave this man the hell alone.TELL THAT *** TO THE JUDGE
What the hell is he doing with 100 cars? One only has two feet to drive 'em. Folk can be so overly excessive. Yeah, dude should be fined and be done with it. Hell, some murderers don't get this fed foolishness they're trying to pin on him. I love animals, and he was wrong for the nonchalant murdering of them, but they're trying to hang this brother.
I am not kicking Mike when he is down but.... Mike Vick brought this on himself and he is about to pay the consequences for his own stupidity and poor as hell judgement. He's a knucklehead plain and simple and it proves my theory that just because someone says that they are your friend does not mean that they are. "You big dummy". Hopefully he will get some of his life back.
So obvious the majority of you are young and dumb... first read the article prior to making a comment and then don't try to pass judgement....He had everything he could imagine???? how do you know he did. Maybe the money would have been enough for you but that did'nt bring him happiness. He made a mistake as all of you have he is just in the spotlight and his can't be hidden.... He fights dogs some of you *** fights girls so should you *** be locked up and have the key thrown away as well?
