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Michael Vick Must Repay Loan
POSTED: 1:43 pm EDT May 8,
2008
UPDATED: 2:35 pm EDT May 8,
2008
RICHMOND, Va. -- A federal judge in Virginia ordered imprisoned quarterback Michael Vick to repay more than 2.4 million to a Canadian bank for defaulting on a loan.The Royal Bank of Canada sued Vick in September and argued that Vick’s dog fighting charges and trials prevented him from repaying the loan because the controversy affected his employment status.According to the suit filed in U.S. District Court in Newport News, the loan's terms specify that any employment change negatively affecting Vick's income constitutes a default on the loan.
Vick is serving a 23-month prison sentence after pleading guilty last year to bankrolling a dogfighting ring.
Copyright 2008 by cbs46.com. The Associated Press contributed to this report. All rights reserved.
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