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Old 11-08-2013   #61
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by chicagotexan2 View Post
You could also hire an auditor to ensure everything is on the up and up. It's costs money but if it discovers fraud the money is well spent. What a pathetic story.


while true at the end of the day you should be looking over your money too
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Old 11-08-2013   #62
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by Playoffs View Post
Regardless, I'd think preserving/freezing Young's assets in an amount to satisfy the debt & collection efforts would be prudent -- even if it is a hardship on Young -- until the Young's lawsuit is cleared.


what grounds would you currently have to freeze assets?
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Old 11-08-2013   #63
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Default Re: In lawsuit, Vince Young claims millions of his money missing

Of course but some people aren't savvy enough to know what to look for or too busy to go over every transaction so hire someone that will do it.
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Old 11-08-2013   #64
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by 2012Champs View Post
what grounds would you currently have to freeze assets?
It's in the article you posted...

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Pro Player Funding, which has a judgment in New York state against Young for non-payment of the loan, last week obtained a temporary restraining order in which the former NFL quarterback was ordered not to hide, dispose of or waste personal assets. The company also is asking for a receiver to be appointed to seize Young’s assets to enforce the judgment.
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Old 11-08-2013   #65
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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It's in the article you posted...


from that article his assets are not frozen
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Old 11-08-2013   #66
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Former NFL and University of Texas quarterback Vince Young has been ordered by a Harris County district judge not to hide, dispose of or waste personal assets as he faces a court hearing this week that could result in seizure of his property to pay a $1.8 million court judgment.

State District Judge Bill Burke last week signed a temporary restraining order sought by attorneys for Pro Player Funding, which obtained a judgment in 2012 in New York state ordering Young to repay a $1.8 million loan obtained during the 2011 NFL lockout.

Attorneys sought the order by claiming Young “may deplete and may continue to deplete his assets” prior to a Friday hearing during which Pro Player Funding will seek a turnover order that will allow it to seize Young’s property to satisfy the judgment.

Young is prohibited from “secreting or wasting assets, dissipating any personal assets, including but not limited to transferring or withdrawing money out of personal or business accounts and or selling, transferring or gifting personal property to others.”
http://blog.chron.com/ultimatetexans...leting-assets/
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Old 11-08-2013   #67
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Default Re: In lawsuit, Vince Young claims millions of his money missing

I do not feel sorry for anyone that [allegedly] throws themselves a $300,000.00 birthday party.

The day I start feeling sorry for stupid people is the day that I've lost my mind.
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Old 11-08-2013   #68
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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I skipped right over that part
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Old 11-08-2013   #69
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by Hervoyel View Post
Exactly right.

Say for a moment that Vince got swindled (Ok, we all know he got swindled but allow me to continue). Now lets imagine that we live in a world where Vince wins his case and some "judge" somewhere orders a big ol' baliff to hold the other guys upside down and shake them until $19 millions dollars falls out.

Now lets further imagine that it actually happens and Vince gets his $19 million dollars back. How long is that going to last VY? That's what? 2 years worth of making it rain, parties, and limos?

I feel bad for him but he's his own worst enemy.
No no...I say we show up and make a bet with him "double or nothing" and say "Okay Vince...we're thinking of a COLOR...." and trick his dumbass out of it.
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Old 11-08-2013   #70
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by Double Barrel View Post
I do not feel sorry for anyone that [allegedly] throws themselves a $300,000.00 birthday party.

The day I start feeling sorry for stupid people is the day that I've lost my mind.

$300K for a vuggin' BIRTHDAY party? Was every guest a pornstar? Did he record the whole thing then sell it? Then he wasted his damn money.
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Old 11-08-2013   #71
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Default Re: In lawsuit, Vince Young claims millions of his money missing

multi post
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Old 11-08-2013   #72
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by 2012Champs View Post
I skipped right over that part
You can still read. It's a different article from a few days ago.
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Old 11-08-2013   #73
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Originally Posted by Double Barrel View Post
I do not feel sorry for anyone that [allegedly] throws themselves a $300,000.00 birthday party.

The day I start feeling sorry for stupid people is the day that I've lost my mind.
In his defense it was a birthday celebration he may never have had the chance to experience again. I mean after all how many of us make it to the ripe old age of 29.
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Old 01-22-2014   #74
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Default Vince Young files for bankruptcy

Vince Young files for bankruptcy
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Vince Young, the former University of Texas and NFL quarterback from Houston who has been involved in a pair of lawsuits stemming from financial issues that arose during the 2011 NFL lockout, has filed for Chapter 11 bankruptcy protection.

Attorney Brian Kilmer of Houston filed the petition last week in a Houston federal bankruptcy court on Young’s behalf, listing Young with estimated assets between $500,001 and $1 million and liabilities between $1,001,000 and $10 million. No specific details on Young’s assets and liabilities were immediately available.

Over the last year, Young, 30, has been locked in a pair of lawsuits stemming from a $1.8 million loan obtained in his name during the 2011 lockout.

A New York state court has granted a judgment against Young to Pro Player Funding, a New York company that made the loan, which along with interest has grown to more than $2.5 million, according to a Pro Player attorney.

Pro Player Funding has made several efforts in a Harris County state district court to enforce collection of the judgment, but those efforts remain pending.

In the wake of the New York case, Young sued a group that included his former financial adviser, Ronnie Peoples of Raleigh, N.C., and his former agent, Major Adams II of Houston, claiming that the defendants defrauded him and conspired with Pro Player Funding to obtain the loan and that Young himself never received the money in question. Lawyers in December said a settlement had been reached in the Peoples case, but that agreement has not been finalized.

Documents filed in the Peoples case include a financial statement as of July 2013 that listed Young and his wife, Candice, with assets totaling $1.8 million and liabilities totaling $2.5 million, including the New York state judgment. Young’s assets included five cars, his home, NFL annuity and 401(k) funds and jewelry valued at about $200,000.

While the state case continued, a Harris County district judge granted a temporary restraining order that prohibited Young from wasting or dissipating assets and limited him to $25,000 in monthly household expenses, including child support.
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Old 01-22-2014   #75
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Default Re: In lawsuit, Vince Young claims millions of his money missing

Dude should have gone to the CFL when Buffalo cut him for this very reason.
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Old 01-22-2014   #76
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Vince Young (or someone using his name) borrowed $1.9 million at 20% interest. Do that math on that. Staggering.

I wrote about the lockout loans Vince Young and other #NFL players took out in 2011. Coming back to haunt them now: http://www.thepostgame.com/features/...-lockout-loans
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Old 01-22-2014   #77
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Compound interest, or simple interest?
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Old 01-22-2014   #78
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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Compound interest, or simple interest?


If you arent paying Im sure its compounding
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Old 01-22-2014   #79
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Default Re: In lawsuit, Vince Young claims millions of his money missing

I read somewhere that he now owes $2.5M. That's a big jump in just under 3 years.
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Old 01-22-2014   #80
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Default Re: In lawsuit, Vince Young claims millions of his money missing

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I read somewhere that he now owes $2.5M. That's a big jump in just under 3 years.
roughly 10% a year for 3 years would get it from 1.9 to 2.5 if they were compounding the interest
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