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But the way he spent money put him in a financial crisis almost as sticky as his criminal situation because of spreading the wealth to family members and friends.
He claims assets of $16 million and liabilities of $20.4 million. He’s on the hook for judgments of $3.5 million to two banks and $4.5 million to a sports agent who sued him and won.
All the while his monthly bills are piling up: his mother Brenda Boddie’s $4,700 mortgage; more than $2,000 in car payments for her Cadillac XLR and Escalade; a $2,500 mortgage for fiancee Kijafa Frink and their two children; $1,160 for Frink’s Range Rover; a $781 payment for his sister’s Yukon Denali; $3,500 in monthly support for his young son and the boy’s mother.
Scores of large withdrawals, debits, wire transfers and cashier’s checks — some for hundreds of thousands of dollars — were made from various accounts over the last couple of years. In most cases there’s no indication of how the money was spent.
Charles W. Reamon Jr., listed in court papers as Vick’s “personal assistant and friend,” had easy access to the player’s money and tapped one account for more than $1.1 million between October 2006 and December 2007. Reamon is now listed as a potential defendant in lawsuits that Vick is considering filing, alleging mismanagement of his money.
Among the other potential defendants are former financial advisers Mary Wong and David Talbot. Wong was recommended to Vick by his former teammate, Demorrio Williams, now a Chief. Vick’s lawyers now believe Wong owes him at least $625,000 — a claim she disputes. She also has accounted for some of the money Vick entrusted to her.
“There were a lot of people with his or her hands in the till,” one of Vick’s lawyers, Peter Ginsberg, said at a recent bankruptcy hearing.
Michael Vick has been moved from federal prison in Leavenworth to the Hopewell Regional Jail in Richmond, Va., so he can appear in Surry County Circuit Court on Tuesday to plead guilty to two state charges related to dogfighting. The deal with prosecutors includes a suspended sentence and probation.
Vick had to get the state charges resolved so he could be eligible for early release from prison into a halfway house.
| The Associated Press
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