After months of trying to work his way out of his financial troubles, Antoine Walker is declaring for bankruptcy. Wallker played for UK for two years, won the NCAA Championship in 96′ and then entered the NBA Draft. There, he made over $110M throughout his career. Sadly, it’s all gone.
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The southtownstar.com reported that Walker was presented with a $2.3 million foreclosure lawsuit on his mother’s mansion. This seemed to get the bankruptcy ball rolling. Here’s an excerpt from the article.
[QUOTE]In the bankruptcy filing, the former basketball star – who reportedly earned $110 million in his 13-year career – lists his liabilities as $12.7 million against $4.2 million in assets, which include a $20,000 watch and a $6,000 Miami Heat NBA championship ring.
Walker, 33, bought the $2.3 million, 13,000-square-foot home, complete with 11 bathrooms, on Athena Court for his mother in June 2005, according to court records.
Now, five years later, Walker owes almost $70,000 in back property taxes on the home, according to public records.
Add to that the $1.2 million in gambling debt he owes to casinos in East Chicago, Ind., and in Las Vegas and the $750,000 he owes to the Clark County district attorney’s office in Las Vegas.
In 2009, Walker was charged with writing $1 million worth of bad checks at casinos in Las Vegas. He cut a deal with prosecutors to pay the money back but still owes them the majority of the cash.
On top of that, Walker said in his bankruptcy filing that he owes former agent Mark Bartelstein almost $500,000.
[/QUOTE]You can read the [URL=”http://www.southtownstar.com/news/2327314,052810walker.article”]complete article here.[/URL].
