Johnson files bankruptcy due to parents, advisors
COLUMBUS (AP) — Columbus Blue Jackets defenseman Jack Johnson has filed for bankruptcy while earning millions under a $30.5 million contract in his ninth NHL season.
In federal court records, the 27-year-old says his finances have fallen apart under his parents’ management. He says creditors and his financial advisers took advantage of him through fraudulent transactions and predatory lending, with his contract earnings pledged as security for unconventional loans that he didn’t authorize.
Johnson filed for bankruptcy Oct. 7, two days before the team began the regular season. Those filings indicated he owed more than $12 million. For estimated assets, he checked the box indicating $1 million to $10 million.
Johnson tells The Columbus Dispatch others led him down the wrong path and he’s trying to fix that, but declined to comment further.