Mike Nifong = Bankrupt!! | FerrariChat

Mike Nifong = Bankrupt!!

Discussion in 'Other Off Topic Forum' started by REMIX, Jan 15, 2008.

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  1. REMIX

    REMIX Two Time F1 World Champ

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    http://www.thesmokinggun.com/archive/years/2008/0115084nifong1.html

    JANUARY 15--Disgraced and disbarred, Mike Nifong is now bankrupt. The former North Carolina prosecutor, whose career imploded with his botched handling of the Duke University rape case, today filed for bankruptcy, listing liabilities in excess of $180 million. A summary schedule from Nifong's Chapter 7 petition can be found below. Almost all of that sum represents legal claims filed against the former Durham County district attorney by members of Duke's 2006 lacrosse team, including the three players who were accused of raping a stripper at a team party. Included among Nifong's assets are a 2003 Honda Accord, about $9000 in personal property, and his $235,000 home. He lists nearly $5000 monthly in pension or retirement income and describes himself, charitably, as retired.

    RMX
     
    REMIX, Jan 15, 2008
    #1
  2. UroTrash

    UroTrash Four Time F1 World Champ Consultant Owner

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    Serves the SOB right!
     
    UroTrash, Jan 15, 2008
    #2
  3. TexasF355F1

    TexasF355F1 Seven Time F1 World Champ Silver Subscribed

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    +1

    Asshat deserves it. Trying to ruin others lives, while attempting to further his own.

    The stripper will never be believed again for anything ever again either.
     
    TexasF355F1, Jan 15, 2008
    #3
  4. MurcieMurcie

    MurcieMurcie F1 Rookie

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    got what he deserved...
     
    MurcieMurcie, Jan 15, 2008
    #4
  5. 3forty8

    3forty8 F1 Rookie Owner

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    I'm not familiar with BK laws, but I hope some sort of garnishment survives the BK. Not right if he can simply file and walk away from responsibility for what he put them through.
     
    3forty8, Jan 16, 2008
    #5
  6. ADON

    ADON Formula 3

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    BK is not enough. That asshat needs more bad karma.
     
    ADON, Jan 16, 2008
    #6
  7. AntonyR

    AntonyR F1 Veteran

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    Those kids are going to be ok when they win their case


    Antony
     
    AntonyR, Jan 16, 2008
    #7
  8. Gilles27

    Gilles27 F1 World Champ

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    $180 mil in liabilities?! On his pension, that will take 36,000 months to pay off.
     
    Gilles27, Jan 16, 2008
    #8
  9. TexasF355F1

    TexasF355F1 Seven Time F1 World Champ Silver Subscribed

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    Neither am I. I would hope so too, for the Duke kids. I'm sure there are ways to get them some financial restitution.
     
    TexasF355F1, Jan 16, 2008
    #9
  10. HUTCH91TR

    HUTCH91TR F1 Rookie

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    +1. That's Karma!!!
     
    HUTCH91TR, Jan 16, 2008
    #10
  11. JCR

    JCR F1 World Champ Silver Subscribed

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    The city of Durham, NC. will be taken to the cleaners. The boys will get 7 figures or more.
     
    JCR, Jan 16, 2008
    #11
  12. switchcars

    switchcars Formula 3

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    How the heck do you rack up $180mil in liabilities with assets of less than $500k?????
     
    switchcars, Jan 16, 2008
    #12
  13. bpu699

    bpu699 F1 World Champ Owner Silver Subscribed

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    The real question you have to ask yourself is: Where did he hide the rest of his assets?

    No way a lawyer has that few assets. His asset sheet is comparable to that of a minimum wage employee...

    No stocks? No bonds? No jewelry? No second homes or investment properties? No income streams? No partnerships? No business ventures???

    He drives an ancient Honda Accord?

    Seriously? Anyone believe that?
     
    bpu699, Jan 16, 2008
    #13
  14. UroTrash

    UroTrash Four Time F1 World Champ Consultant Owner

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    Hope he did. a forensic accountant will put his sorry @ss in the pokey.
     
    UroTrash, Jan 16, 2008
    #14
  15. ryalex

    ryalex Two Time F1 World Champ Consultant Owner

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    Yes, I do. He was a prosecutor, a government employee. They start out around $40k/yr and (AFAIK) top out at $90-120k.
     
    ryalex, Jan 16, 2008
    #15
  16. Westworld

    Westworld Three Time F1 World Champ Silver Subscribed

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    Kind of confusing. $180 million????
     
    Westworld, Jan 16, 2008
    #16
  17. ryalex

    ryalex Two Time F1 World Champ Consultant Owner

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    Just the estimated value of the lawsuits against him.
     
    ryalex, Jan 16, 2008
    #17
  18. wax

    wax Five Time F1 World Champ Lifetime Rossa

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    Hey, this voodoo stuff really works!
     
    wax, Jan 16, 2008
    #18
  19. ski_bum

    ski_bum Formula 3

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    Should have moved to FL. There is someone down there who could probably use an ex-prosecutors help in finding a killer on the golf links........
     
    ski_bum, Jan 16, 2008
    #19
  20. Westworld

    Westworld Three Time F1 World Champ Silver Subscribed

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    Oh ok. Thanks for clearing that up.
     
    Westworld, Jan 16, 2008
    #20
  21. mike

    mike Formula Junior

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    Looks shady to me... he's trumping up stuff, & hiding what he can.. Seems suspicious that one could list "potential" claims/lawsuits..
    If I list my potential liabilities (cost of living..not income) I'll have a Billion dollars in Booze...LOL
     
    mike, Jan 17, 2008
    #21
  22. robert biscan

    robert biscan F1 Veteran Silver Subscribed

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    O.J's pension is not on the table for lawsuits and maybe his is off limits as well. Maybe his house can be had but maybe not. I think he did it to stop legal action or at least slow it down. Now he is protected by bankruptcy court.
     
    robert biscan, Jan 17, 2008
    #22

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