Team USA defenseman Jack Johnson forced to file for bankruptcy

[NoleMoreTears]

Not sure if anyone caught this. Jack Johnson, all-star and Team USA defenseman, has filed for bankruptcy because his parents took control of his $$ and threw it away.

Parents borrowed about 20 million on future earnings at interest rates of 12-24% (!)


Jack is a good kid who made a dumb mistake - trusting his a-hole dad to look after his interests. And his dad is an a-hole. Never met the mom but I can only imagine.

Crazy story.


Bankrupt Millionaire

 

[nolealum99]

These types of stories are made even worse when it is your own family who pisses away your millions. It is one thing if it some shady agent or money man you hired, but your own parents??? Damn that sucks. I saw the story last week and feel really bad for the guy.

 

[Manch.]

NMT, that is just sad, but believable, just like many of Hollywood's child stars. He has a portion of a decent contract left to set himself up, and hopefully, lawsuits don't take that away too!

 

[NoleMoreTears]

I don't know the exact accuracy of the filing but he claimed a measly $50k in assets and over 10 mil in debt. The contract remainder is I think barely enough to cover the debt claim.

Sucks - yes what a bummer to be stiffed by your own family. I can tell you Jack himself is a really good and grounded athlete.

They are claiming what basically amounts of damage or severance for all the years taking him to hockey practice. Sad thing is Jack could have made more by going straight to the NHL but his dad was hell-bent on him attending Michigan (dad is an alum).

Total schmuck.