|
World SPORTs-BREAKING NEWS Read all the BREAKING NEWS Reports/In The World on Sports from Around the World-That Comes Into This Site By Wire |
IMPORTANT ANNOUNCEMENT |
Hallo to All Members. As you can see we regularly Upgrade our Servers, (Sorry for any Downtime during this). We also have added more Forums to help you with many things and for you to enjoy. We now need you to help us to keep this site up and running. This site works at a loss every month and we appeal to you to donate what you can. If you would like to help us, then please just send a message to any Member of Staff for info on how to do this,,,, & Thank You for Being Members of this site. |
|
LinkBack | Thread Tools | Display Modes |
21-11-14, 16:04 | #1 |
Join Date: Feb 2011
Posts: 47,688
Thanks: 27,647
Thanked 14,458 Times in 10,262 Posts
|
NHL Star Bankrupt-PARENTS Stole his $30million Fortune
NHL Star Forced to Declare Bankruptcy after 'his PARENTS Secretly Squandered his $30million Fortune on Homes, Vacations and Cars'
At just 27-years-old, Jack Johnson has had a remarkable hockey career. The Coulmbus Blue Jackets defenseman, who previously played for the Los Angeles Kings, was selected third in the 2005 NHL Entry Draft, played for Team USA in the 2010 Olympics, and has earned a staggering $23million during his career. And now all that money, and some more, is gone - because of his parents. Scroll down for video Down and out: NHL star Jack Johnson has had his $30million fortune squandered by his parents, who he trusted with his money Lush life: Johnson's parents spent money on cars, travel and a new home Family: Johnson with his parents, Tina and Jack Sr. After parting with his agent in 2008, Johnson, who attended University of Michigan but has little financial knowledge, turned control of his money over to his parents. Then, in 2011,Johnson signed a power of attorney that granted his mother full control of his finances shortly before signing a $30.5million contract with the Kings. That is when things started to go horribly wrong. Tina Johnson, Jack's mother, borrowed at least $15 million in her son’s name against his future earnings. What's more, she borrowed from nonconventional lenders and defaulted on the loans. The loans included one from Iowa Congressman Rodney L. Blum for $2million, with an interest rate of 12 percent, and one from Pro Player Funding for $3 million, with an interest rate of 24 percent. Now, Jack has been sued repeatedly for $6million in loan repayments after his parents splurged on cars, a home in Manhattan Beach, California, along with $800,00 in upgrades, and travel. He has also been forced to declare bankruptcy. 'Jack would ask [his parents] questions: "What’s this? What are these guys calling about?",' a source told the paper. 'And they would tell him not to worry about it, just worry about playing hockey.' Now all Jack can claim is assets 'less then $50,000' and 'debts greater than $10million.' Illustrious career: Johnson has had an amazing career, playing for the 2010 Olympic team (left) as well as the Columbus Blue Jackets (left) and the Los Angeles Kings Rough life: Now Johnson owes more than $10million and is having all his checks garnished His paychecks from the Blue Jackets meanwhile, who are paying him $5million this season, are garnished as soon as he receives them. The source said he is no longer speaking to his parents. 'I’ve seen lots of instances of parents riding their kid’s coattails around,' said one NHL executive. 'I’ve never seen a case as ugly as this one, where the parents took such advantage of their kid.' Jack, who has hired a new team of financial advisers, is taking the high road still somehow, despite this awful setback. 'I’d say I picked the wrong people who led me down the wrong path,' he said. 'I’ve got people in place who are going to fix everything now. It’s something I should have done a long time ago.'
__________________
PUTIN TRUMP & Netanyahu Will Meet in HELL ..................SHARKS are Closing in on TRUMP.......................... TRUMP WARNS; 'There'll Be a Bloodbath If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
Thread Tools | |
Display Modes | |
|
|