The Truth About Evander Kane's Bankruptcy Exposed in Court This Week
In 2017, when Evander Kane was with the Sharks he owed a ''bookie'' $140,000, that bookie went by a name of ''Vinny'' (fake name), Kane also owed $100,000 to a casino. In case you aren't aware, a bookie is someone who places gambling bets for someone who is unauthorized too, or not in the legal state to gamble.
That was just a fraction of the ''tens of millions of dollars'' Kane accumulated over his career. To make the payments on those loans, he borrowed from friends and also lenders.
This court case is still going on, hence where all this info is coming from- it was revealed just last week. His top creditor, Centennial Bank, wants to block the bankruptcy to prevent Kane to walk away from his debts, they claim Kane owes more than $8 million dollars.
A centennial owner called it the biggest high-profile athlete bankruptcy cases in years, ''With over $50 million of carer earnings and tens of millions in borrowing, where did it all go? I'm just trying to figure out what exactly you did with your funds?'', Said a Centennial lawyer, Kane's side had no response.
Kane filed his petition nearly two years ago and listed his assets of $10.2 million and debts of $26.8 million, much of it was recently borrowed bank debt. But between 2014 and 2018 Kane also borrowed almost $30 million in 16 transactions.
The lender states that since 2014 Kane has entered 24 separate lending agreements.
A company by the name of Sure Sports which specializes in loans to athletes is being sued by the US bankruptcy trustee for it's role in Kane's bankruptcy.
One of the questions Centennial repeatedly put to Kane in that July 6 interview is while he explained that many of his current debts were incurred to replace high-interest loans, what were these earlier so-called «hard money» loans used for? He often replied he did not know or that they were to take out older loans, according to the deposition transcript.
Kane also borrowed $2 million from friends and family, where he would then testitify those debts were to help him pay off his gamblining debts, morgtages and loans from others. But the court stated he purchased a $9,000 Pokemon card but he testified.
Kane spent $10 million on real estate, but he listed expenses of nearly $100,000 a month on his January 2021 bankruptcy petition. He is also listed at $1.5 million in gambling losses.
Whether the bank believes there are more or less than $1.5 million in gambling losses is not stated, but the motion and deposition focus in part on the betting issue.
«Yes,» Kane replied.
«And who is Vinny?»
«He's a bookie, but that's not like his real name, it's just a name that was used It was a name I was given to use to identify him.»
«So would you have any records to support whatever was owed to Vinny?»
Kane replied he did not.
Kane's ex wife filed that he would bet on NHL games, Kane declined that and the NHL held an investigation which cleared him from those accusations. He bet at casinos, on basketball, football and baseball, but no hockey was cited.
Source: The Athletic
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DECEMBRE 22 | 321 ANSWERS The Truth About Evander Kane's Bankruptcy Exposed in Court This Week Do you believe Evander Kane deserves a second chance? | ||
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| No | 50 | 15.6 % |
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