Before filing for bankruptcy protection, NFL quarterback Mark Brunell made sure to take good care of his family, spending more than $50,000 in gifts during the past year, including payments for his parents' mortgage and contributions to college funds for his niece and nephew. Left holding the bag are those who lent Brunell nearly $25 million for various investments that went belly-up.
Those are among the revelations in a detailed look at Brunell's bankruptcy filing in the Florida Times-Union, which reports that Brunell has assets of $5.5 million but owes $24.7 million, mostly through a real estate and development partnership he's involved in.
"They bought some land and they got killed, like a lot of people did," said attorney Rick Wilcox, who handled the bankruptcy filing for Brunell.
It's true that a lot of people got burned in bad land deals, but it's a little disingenuous for Wilcox to suggest that Brunell was just a victim of bad luck when the real estate market crashed. Brunell was also the victim of his own personal spending habits, including a $3.1 million home, those gifts to family members, and $155,000 he donated to his church last year.
Brunell is currently a free agent who's expected to sign with the New York Jets when training camp starts. For further information, please visit your Broward County Bankruptcy Attorney.
No comments:
Post a Comment