Former Atlanta Falcons quarterback Michael Vick’s money is in the news yet again this week. ?The judge in Mike’s bankruptcy case has determined that Vick’s finances are so screwed up that he needs a trustee to oversee his dwindling fortune:?
?It has become clear since the filing of this case that Mr. Vick has very limited knowledge of the state of his finances. ? It appears that Mr. Vick has routinely relied upon others to make financial decisions for him, giving them discretionary control over large sums of money,??
In a nutshell…that means that Mike trusted the wrong folks with his cash! ?The two people that he hired to manage his finances – Mary Wong and David Talbot – are both under scrutiny for mismanaging his assets:
According to court documents, Vick retained Wong, of Omaha, Neb., in 2007 to serve as his business manager. He gave her a broad power of attorney over his financial affairs and $550,000. Vick?s attorneys have sought to have Wong account for the funds and have accused her, in court documents, of having ?removed additional substantial funds ? without his authorization.?
?We?re very concerned about Wong,? Ginsberg said. ?There are other people that we are concerned about as well.?
According to court documents, Talbot received $35,000 and a 2008 Mercedes-Benz S550 (valued at between $80,000 and $85,000) from Vick to serve as his financial advisor. He was also to receive a salary and expenses.
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