Ex NBA Player Racks Up $1 Million in Debt in Vegas, Pleads Guilty and Declares Bankruptcy


07/14/2011
By Maria McCoyGoogle

 

A classic story with a bad ending - gambling gone bad.  Walker, whose NBA career spanned 13 seasons, found himself pleading guilty for unpaid debts that he owed to three separate Las Vegas Casino.  He had racked up around $1 million in debts and still has $750,000 more to pay.   If he pays then the Prosecutor Sam Bateman stated publically that he will not seek prison time.  Walker's sentence, if he doesn't pay, could mean up to 4 years in prison. 

 

The debt was racked up in 2008 and 2009, which makes one wonder - why hasn't he paid up yet?  Apparently Walker didn't know that not paying your debts means breaking the law.  In order to pay off the debts that he owes, he's filed for bankruptcy for a reported $12.7 million in liabilities and $4.3 million in assets.  This includes his championship ring.

 

The three casinos that Walker owes money to are: Ceasar's Palace, Planet Hollywood Resort & Casino, and Red Rock Casino, Resort & Spa.

 

 

 


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