Mich. bank sues Sergei Fedorov over unpaid loans

[Gummer12 134]

MOUNT CLEMENS, Mich. (AP) -- A Michigan bank is suing NHL veteran Sergei Fedorov, saying payments have stopped on more than $2 million in loans.

Citizens State Bank filed a lawsuit Monday against Fedorov, a former star with the Detroit Red Wings who now plays for the Washington Capitals.

The lawsuit, filed in Macomb County Circuit Court, said Fedorov got loans in 2004 and 2005, one for $1.75 million and another for $500,000.

A default notice was sent in May after payments stopped, Citizens State Bank attorney Scott Norton said Tuesday.

The bank is owed at least $2.1 million in interest and principal, according to the lawsuit.

A message seeking comment was left for Fedorov's attorney, Brian O'Keefe of Birmingham, on Tuesday.

Norton said Fedorov offered a Miami condominium as collateral on the larger loan. An 11-year-old horse and an insurance policy are collateral on the smaller loan, according to the lawsuit.

Fedorov played 13 seasons for Detroit. Columbus traded him to Washington during the 2007-08 season. The lawsuit first was reported by The Macomb Daily.

[chippa13 1844]

Guess he hung around too much with McCarty.

[Neal 41]

How exactly do you use an 11 year old horse for collateral on a loan? Better have been a short loan, that horse is middle aged.

[Rustpot 1]

Damn, Citizens wasn't even in Macomb until a few years ago. I wonder if this was a Republic Bank matter and there was a mixup after the takeover.

Maybe Feds should take an offer in Russia. More cash, no loan sharks hounding him, home land and all that.

[JR Boucicaut 3804]

How exactly do you use an 11 year old horse for collateral on a loan? Better have been a short loan, that horse is middle aged.

Aww, Anna wanted a pony!

[Gummer12 134]

She Can Saddle ME

[RadioGaGa 162]

How exactly do you use an 11 year old horse for collateral on a loan? Better have been a short loan, that horse is middle aged.

Aww, Anna wanted a pony!

:lol: Hockey knowledge and comedic timing. Bouce does it all.

[JR Boucicaut 3804]

I mean, 11 yrs ago, it fits in the timeframe. She was what, 15 when she was with him?

"But daddy, I WANT IT NOW!"

/veruca salt

[AWE46M3 0]

How exactly do you use an 11 year old horse for collateral on a loan? Better have been a short loan, that horse is middle aged.

I was wondering the same thing! Did it win one of the Triple Crown races? haha I hate seeing things like this about people that make bucks like he did yet still end up defaulting on loans or dead broke. For some reason I just don't see how it happens unless they obviously blew it all on drugs, gambling or just living too large in general - but Im pretty sure he could have paid that $2m if he wanted...

[Wolfpack_1986 154]

kind of small loans considering the ammounts he was making... wonder why... or where the money went.

[Neal 41]

How exactly do you use an 11 year old horse for collateral on a loan? Better have been a short loan, that horse is middle aged.

Aww, Anna wanted a pony!

Can't you just hear the repo guy? "Let me get this straight, you want me to repossess a horse? From Anna Kournakova?"

[jrhky36 1]

kind of small loans considering the ammounts he was making... wonder why... or where the money went.

had to pay for the boat, a couple of ferraris and tennis lessons for Anna (they did not help), and he had to pay off Pavel to stay away, and then the divorce attorneys and finally Anna herself.

[interpathway 9]

tennis lessons for Anna (they did not help)

zing

[bheidepr 0]

FYI: Every other week he would put in an order of CBJ items and have them shipped to his hometown. It was like clockwork....