Jack Johnson, CBJ files bankruptcy

[cwerph]

He turned is finances over to his PARENTS, who totally ripped him off. Took out loans vs future earnings at outrageous interest rates (12-24 %), bought themselves a house in California (when he was with the Kings) which is now being taken by the bank. What a mess. Very sad.

bluejacketsxtra.dispatch.com/content/stories/2014/11/20/blind-sided.html

[Deleted]

At 24, I'm not sure why he turned them over to his parents. Certainly not absolving them, but I find that strange.

[cwerph]

Nov 20, 2014 22:41:03 GMT -5 @theurbaneffect said:

At 24, I'm not sure why he turned them over to his parents. Certainly not absolving them, but I find that strange.

I guess he thought they were the only ones he could trust.

[Deleted]

Nov 20, 2014 22:41:03 GMT -5 @theurbaneffect said:

At 24, I'm not sure why he turned them over to his parents. Certainly not absolving them, but I find that strange.

Does seem odd, but if you can't trust your parents who can you trust? What a horrible story. Those parents need to be bitch slapped.

[Deleted]

Listened to this story on Mike&Mike on the way to Columbus. If true, I can't fathom how parents could do this to their child.

[nwohiofn]

Nothing in my life has given me more satisfaction than my children and my grandchildren. I cannot understand how any parent could place their own interest above that of their children.

[victor2111]

Very sad to read that his parents would take advantage of him like that.

[keln]

Yeah I saw this. I don't see why he can't sure his parent for fiduciary malpractice and shift his debt to them.

[nwohiofn]

Nov 21, 2014 18:02:36 GMT -5 keln said:

Yeah I saw this. I don't see why he can't sure his parent for fiduciary malpractice and shift his debt to them.

If I'm not mistaken, while he could get a judgment against them, he probably could not get off the hook himself. He would still owe the creditors and his parents would owe him, but if they blew through the money, they have no assets to go after. That's why the bankruptcy is necessary.

[BuckeyePaul]

Never heard of the guy, but it made me think of this guy........