It’s often said that “crime doesn’t pay.”
It’s being said more and more often that “Money May doesn’t pay” meaning that Floyd Mayweather Jr., the flashy fighter who claims he will get $15 million for his bout Saturday night against Juan Manuel Marquez, is shirking his financial obligations.
As comment poster Jou Moer points out, Mayweather refutes this, saying on the HBO 24/7 hype show, "My spit is paid for. Is yours?"
Now Las Vegas Sun reporter Steve Green reports that JP Morgan Chase Bank is pursuing the fleetfooted boxer for an auto loan of “more than $167,000.”
The bank had the Mercedes taken away from the "Big Boy Mansion" and to the repo depot.
Part of the story says:
“The suit shows that in April 2007, Mayweather borrowed $415,695 to finance the purchase for $512,184 of a Mercedes Maybach 57S from dealer Fletcher Jones Imports in Las Vegas.
The contract called for an interest rate of 16 percent and 72 monthly payments of $9,077, which the lawsuit said Mayweather failed to make beginning in February 2008.
Court records indicate the bank repossessed the vehicle in January 2009, when the past-due balance had grown to $36,309 and the balance due was $363,000.
After the bank sold the Maybach for $196,000, JP Morgan Chase said that as of March, Mayweather still owed $167,192 on the contract, plus unspecified legal expenses.”
The AP reported previously that the IRS has filed tax liens amounting to $6 million against Mayweather.
The line of bill and tax collectors outside Mayweather's dressing room could easily exceed the paying customers.
Source: http://www.examiner.com/examiner/x-5699-NY-Boxing-Examiner~y2009m9d14-Money-May-Mayweather-wont-pay-on-Mercedes-loan
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