Wife of Raider coach Antonio Pierce files for bankruptcy: Judgements totalling $28MIL

Shadow

The Dark Lord
BGOL Investor
This ain’t scary. Scary is the a generation or 2 behind me that won’t have a safety net all throughout life. The rich want our social security and they will get it.
You can see with the age raising how they’re slowly edging out the probably of the average person collecting for more than 2-5 years right now. People without multiple income streams in their senior years will mostly like work longer into their aging years and the non-penalty age is now 70. You can see the writing on the wall. I am collecting My shit at 62-64. They gonna run me mines before I expire. The penalty won’t hurt too bad since they can’t offset my VA disability for too long.
 

jagu

Rising Star
Platinum Member
Glad to hear you are getting it back man. The vast majority of the time, investors get pennies back on the dollar of anything at all.

If there is such a thing, you picked a good time to "lose" that kind of money
Thank you. yes, Genesis just got out of BK Chpt 11, and the plan shows that all investors will get their principal back, but I have lost/forfeited $25k in interest/dividends.
 

King_of_Posts

Rising Star
Registered
Thank you. yes, Genesis just got out of BK Chpt 11, and the plan shows that all investors will get their principal back, but I have lost/forfeited $25k in interest/dividends.
Damn, I've been here long enough to know that 25k won't make or break you given your profession....but that does still suck.

If SBF wasn't such a greedy sneaky impatient bitch, this would have all worked out regardless from what I've been reading. There is more than enough to pay back investors with billions left over from the appreciation of Bitcoin alone.

Life is about taking chances from time to time and of course, minimizing risk as you get older. The crazy thing is that you didn't actually do anything wrong. You didn't invest money you couldn't afford to lose, although it was a lot of money to most people.
 

peterlongshort

Rising Star
Platinum Member
Nothing. He trusted her.

Truthfully, if I got a good relationship with my wife I might have went in too, but I can only put one egg in any nest. Multiple car dealerships would have been a no-go. I would have went every care, too. No luxury shit; strictly Ford, Chevy or GMC.
I love my wife, but I wouldn’t buy her a car dealership. It would be total chaos.
 

PlayerR

Rising Star
BGOL Investor
What I don't understand is why these guys make risky investments when they have earned over $50 million in their lifetime. You don't need all that shit. Exposing yourself to bogus lawsuits and other shit like this.

Nick Saban owns multiple successful dealerships, I think John Elway has a few. A couple of families in the DMV own a shit ton of dealerships across multiple states. Hell the black dude in Va that's the only Rolls dealer in the US owns a couple of dealerships all doing well.

I wonder where his were & who was running the day to day operations that's a big key to success. Pierce was probably just the one with the high net worth & the name so they got him to sign & whoever else to sign on and guarantee the debt.

I was on the team of a restaurant group that opened several high end restaurants in DC, black dude was the owner. I remember before the first opened were going through vendors & a couple of the vendors wants him to sign on as a personal guarantor for the contracts..lol Dude told all of them to kick rocks.
 

OutlawR.O.C.

R.I.P. shanebp1978
BGOL Investor
A friend of a homie to a homie got conned into lending/fronting his side piece fam money for a poorly planned business idea. It was risky enough bc he didnt know shit about the industry - silent investor. Out $70k just like that. His side piece stood by her fam, as in they weren't in the wrong just not very smart about their idea/plans. The payback was supposedly guaranteed in contract through multiple future payments. Her fam never let him know there was another investor with rights and authority greater than his. He was basically a minority partner. Til this day, dude is waiting on his first repayment. Been 6 years now.

Ya man's side piece and her family gave dude some of those Dumb and Dumber IOU's

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godofwine

Supreme Porn Poster - Ret
BGOL Investor
Hmm. What is her background that someone would front her that kinda scratch?
She better get to hoeing, hotwifing, Onlyfans- something. That's fucked up. And if he ends up losing his job because of this, it's even worse. Motherfuckers fuck up all the time wifing chicks and the only positive thing about her is that she's pretty.

If the only thing you got going for you is being pretty and nothing else you are a loser bitch 90 plus percent of the time
 

illdog

Rising Star
BGOL Investor
Bad move...investing in car dealerships..good move filin bankruptcy in her name to at least attempt to “protect her assets and those of the marital property.”.

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King_of_Posts

Rising Star
Registered
Bad move...investing in car dealerships..good move filin bankruptcy in her name to at least attempt to “protect her assets and those of the marital property.”.

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That idea may have worked if he wasn't a guarantor. He put his name and finances on the line if shit went south and her declaring bankruptcy won't absolve him of that guarantee.

Also, I believe they can be jointly and severally liable. Meaning they can come at one or both for that money. She doesn't have shit so they'll be in his pockets.......bankruptcy or not.
 
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