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Get Fit Hampton Roads
13 Specialist

Bank sues Michael Vick over $1.3 million wine shop loan

07:58 PM EDT on Tuesday, October 16, 2007

Associated Press

ATLANTA (AP) -- Wachovia Bank is seeking about $940,000 from Atlanta Falcons quarterback Michael Vick and a business partner. The bank claims that since Vick's indictment on federal dogfighting charges, the two have defaulted on a 2006 loan to set up a wine shop and restaurant.

In a federal lawsuit, the bank says Vick, partner Gerald Frank Jenkins and their Atlantic Wine & Package have failed to make monthly payments of principal and interest.

Wachovia claimed in the suit filed two weeks ago in Atlanta that it loaned them 1.3 million dollars in May 2006.

Vick and Jenkins opened Atlantic Wine & Spirits and the adjoining Tasting Room restaurant in East Point in March.

Since then, Vick has pleaded guilty in August to bankrolling the dogfighting ring in Virginia and will be sentenced in December in the federal dogfighting case.

Vick already has been sued by an Indiana bank and a Canadian bank who claim he defaulted on loans.

(Copyright 2007 by The Associated Press. All Rights Reserved.)