Jul 242010

July 24 Philadelphia Daily News

“It seems Michael Vick will have some explaining to do in bankruptcy court, according to a report on ESPN.com. The Eagles quarterback is facing charges that he made unauthorized and illegal gifts to friends and family in the months before he declared bankruptcy.

According to court records, Vick wrote and cashed 67 checks between October 2006 and November 2007 that were made payable to “cash.” Records show that the total cash he collected from his 31 bank accounts during this period was $751,765, an average of nearly $54,000 in cash in his pocket each month during the final 7 months of his dogfighting operation and the first 7 months of investigations and charges that led to his incarceration.

Court papers also show that Vick paid $150,000 to each of the three lawyers representing his associates in the dogfighting operation. Ultimately these co-conspirators pleaded guilty and added to the evidence against Vick.

In the new proceeding filed against Vick in Newport News, Va., his bankruptcy trustee asserts that instead of paying what he owed to numerous creditors as he faced the dogfighting charges and likely bankruptcy, Vick made payments to his mother, the mothers of his three children, his sister and his brother, Marcus.”

Click here for full article…