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Blind-Sided: Blue Jacket Star Files Bankruptcy Due To Risky Loans By Parents

Columbus Blue Jackets’ Jack Johnson is bankrupt, and who led him there is the biggest shocker.

Jack Johnson is a star with the Columbus Blue Jackets, but after earning more than $18 million during his career - he's now filed for bankruptcy.

The Columbus Dispatch reports the filing was made just before the start of the season.

“I’d say I picked the wrong people who led me down the wrong path,” Johnson, a 27-year-old defenseman, told The Dispatch last week. “I’ve got people in place who are going to fix everything now. It’s something I should have done a long time ago.”

The wrong people, according to the newspaper report, includes Johnson's parents (Jack Sr. and Tina Johnson).

The cause of his financial problems involves defaulting on a string of risky loans with high interest rates, resulting in huge fees and lawsuits.

After Johnson left his agent, he turned his finances over to his parents. 

The Dispatch reports that sources say Tina Johnson "borrowed at least $15 million in her son’s name against his future earnings, taking out a series of high-interest loans — perhaps as many as 18 — from nonconventional lenders that resulted in a series of defaults."

Johnson has since cut off contact with his parents.

The paper also said that Johnson's paychecks last year were garnished to the point that they were gone before he even got them.


SLIDESHOW: Athletes Who Have Declared Bankruptcy >>


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