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Judge Orders Vick to Pay Bank $2.4M

By MICHAEL FELBERBAUM,

Posted: 2008-05-08 20:36:14

RICHMOND, Va. (May 8) - A federal judge ordered imprisoned quarterback Michael Vick to repay more than $2.4 million to a Canadian bank for defaulting on a loan. The Royal Bank of Canada sued Vick in September, arguing his guilty plea to a federal dogfighting charge - and the resulting impact on his career - prevented him from repaying the loan.

According to the suit filed in U.S. District Court in Newport News, the loan's terms specify that any employment change negatively impacting Vick's income constitutes a default on the loan.

Vick is serving a 23-month prison sentence at the U.S. penitentiary in Leavenworth, Kan., after pleading guilty last year to bankrolling a dogfighting ring. He was subsequently suspended indefinitely without pay and lost all his major sponsors, including Nike. He also faces state charges related to dogfighting.

"The criminal charges, and resulting impact on the defendant's employment ... materially affect his ability to repay the term note," the bank said in the lawsuit.

The order Wednesday from U.S. Magistrate F. Bradford Stillman requires Vick to pay $2.4 million, plus $499 in interest per day, starting Sept. 19, 2007, and the bank's attorneys' fees and costs of $11,950 plus interest.

Vick's attorneys did not immediately return phone messages seeking comment.

After the plea, the Atlanta Falcons also tried to recover about $20 million in bonuses Vick earned from 2004 to 2007. But a federal judge held that Vick is entitled to keep all but $3.75 million of the money paid to him for playing football through the 2014 season.

A default judgment for $1.08 million also was entered in January against Vick and a business partner in a lawsuit brought by Wachovia Bank over a loan for an Atlanta-area wine shop and restaurant.

Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.

2008-05-08 18:15:51

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16 comments

Shighley74 05:30:26 PM May 12 2008

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reading this board makes me want to claw my eyes out

Cblguy85 03:10:53 PM May 12 2008

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i feel the same way,at least 4 different players in the N-F-L have had charges for more elaborate things and they want to come down on the highest paid man in the No-Fun-League,i cant say what he did was wrong but it happens everyday everywhere and you dont see or here about.. But M-Vick gets 2yrs...... the justice system is wrong.....

grager 08:11:54 AM May 11 2008

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Give me the Ball, Dah

Damonvailati 01:04:39 AM May 11 2008

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Damn, some ignorance on this board. How can you honestly say this is racially motivated, when the reality is any professional athlete with strong visibility and high dollar value (regardless of being black or white), has a responsibilty to themselves, their families, as well as their team and the respective league to be professional. He has to be one of the dumbest, yet talented player I have ever seen. His punk little brother is he SAME way. Nothing to do with race, this is not the freakin 1960's, he is just stupid...end of story. Grow up Vick,dumbas*. Yea, it is the white man bringing him down, HA, shutup with that nonsense, it is the ****** ingorant, immature, PERSON/PLAYER bringin himself down.

Horse63 11:43:33 PM May 10 2008

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Michael Jordan is a true American Black Man, Michael Vick is not.

Horse63 11:38:23 PM May 10 2008

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Vicks types, would act like him, is in their genes! "the devil made him do it" type of thing.!!!

knsbeth 05:25:03 PM May 10 2008

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We have one wacked out justice system!

knsbeth 05:23:05 PM May 10 2008

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SORRY FOLKS.... but I cannot believe that this is happening to Michael Vick. YES, he was convicted and admitted to Federal Dogfighting....

However, we still have other NFL players that are involved in things a lot worst than this who are getting a pass. We've got everything to alleged child abuse, sex with a child under the age of 15, strip club shootings, use of illegal drugs, etc.

ALL OF THESE ARE AGAINST HUMANS....NOT ANIMALS

Not that I condone his actions....but the punishment definitely doesn't fit the crime if you look at these other guys.

This guy was made an example of.......and they still are.

emperioh 05:18:37 PM May 10 2008

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cant wait for mike vick to be back on the feild.

pittypat1976 07:23:05 PM May 09 2008

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Vick deserves everything that happens to him. Maybe in jail he can learn how to read since he evidently didnot read his contracts. What he did to those dogs is horrible and he'll get no simpathy from and most people black or white.

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