Marion Jones is broke


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Marion Jones is broke

Postby kamikaze7 » Mon Jun 25, 2007 4:09 am

LOS ANGELES (AP) - Seven years after winning a women's record five Olympic athletics medals and snagging multimillion-dollar endorsement deals, Marion Jones is broke.
The sprinter is heavily in debt, fighting off court judgments and down to a bank balance of about $2,000, according to recent court records reviewed by the Los Angeles Times.
Last year a bank foreclosed on her $2.5 million mansion in an area of Chapel Hill, North Carolina, where Michael Jordan was a neighbor. She was also forced to sell two other properties, including her mother's house, to raise money.
Jones' financial woes were revealed in a 168-page deposition in a breach-of-contract suit she filed in Dallas against veteran track coach Dan Pfaff. Pfaff countersued and won a judgment against Jones for about $240,000 in unpaid training fees and legal expenses.
Legal bills have plagued Jones since 2003, when suspicions of drug use emerged and she was linked to the Bay Area Laboratory Co-Operative (BALCO) after a federal raid. Jones retained attorneys for her BALCO grand jury testimony, for negotiations with the U.S. Anti-Doping Agency in her fight to avoid being banned from competition, for a defamation lawsuit she filed against BALCO founder Victor Conte, who accused her of taking performance-enhancing drugs, and for taking on Pfaff in her breach-of-contract suit.
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Postby 26mi235 » Mon Jun 25, 2007 7:58 am

Makes her comment about not noticing a check of $7000 (or whatever) seem even more ironic.
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Postby guru » Mon Jun 25, 2007 8:07 am

Really, how many threads about this do we need? :roll:
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Postby bad hammy » Mon Jun 25, 2007 8:08 am

At least three . . . :lol:
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Postby EPelle » Mon Jun 25, 2007 8:11 am

26mi235 wrote:Makes her comment about not noticing a check of $7000 (or whatever) seem even more ironic.

... and Tim Montgomery:s free use of her account to deposit a forged check (a fact to which he admitted he carried out on his own) all the scarier.
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Postby Jack Slocombe » Mon Jun 25, 2007 8:56 am

From queen to scrubwoman, and with a college degree. Life is good in America where opportunities abound.

Makes ya proud to be an American. (not)
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Postby Zat0pek » Mon Jun 25, 2007 9:07 am

Jack Slocombe wrote:From queen to scrubwoman, and with a college degree. Life is good in America where opportunities abound.

Makes ya proud to be an American. (not)


Yeah, you're right.

How awful that we let people fail by their own choices, and experience the consequences of their own actions.

Of course, you left out the part that she is just as capable of going from scrubwoman to queen IF she so chooses.

Jeez, what a lousy country, huh?
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Postby EPelle » Mon Jun 25, 2007 11:56 am

Dirty laundry.
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Postby bad hammy » Mon Jun 25, 2007 12:06 pm

EPelle wrote:In Jones deposition, she stated that her home was worth 2,5M-USD. However, Jones final home in North Carolina - in Cary - has a total value assessment of 146.141-USD.

Don't know how it works in NC. In CA the assessed value is only equal to the real value when a property changes ownership. At that time it is assessed at the sale transaction price. After that, by law, the assessed value (used for property tax purposes) can only rise by a max 2%/year. Until the next change of ownership the closest thing to an actual value is generally what an appraiser will say the value is. The last appraisal we had on our home indicated an appraised value close to double the assessed value.

That said, even if the system worked that way in NC, the discrepancy is too large to be easily accounted for if in fact we are talking the same property. In CA you can see such discrepancies, but the homeowner would have to own the home for 20 or more years to see that big a gap.
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Postby EPelle » Mon Jun 25, 2007 12:09 pm

Thanks, hammy. Those are her last two properties of legal record.
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Postby ponytayne » Mon Jun 25, 2007 12:14 pm

Someone on this site said something to the effect of "you are known by the company you keep." Let's see, CJ Harris, Tim Montgomery, and Trevor Graham, and that other coach they worked with a little who worked with Ben Johnson. Notice any similarities?!?!?! Come on people, why do we care what she's going through. You reap what you sew. She deserves to go down in FLAMES for disgracing the sport and herself. Maybe she can put that college degree to use and earn a living in a way where she cant cheat.

Oh, and i AM proud to be an american.
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Postby lonewolf » Mon Jun 25, 2007 12:16 pm

Jack Slocombe wrote:From queen to scrubwoman, and with a college degree. Life is good in America where opportunities abound.

Makes ya proud to be an American. (not)


I do not understand this irrelevant jibe at the American cultural/economic system as somehow being responsible for Ms Jones reduced circumstances..
Weep not for Maid Marian... an old cliche comes to mind.... she has made her (several) bed(s) and now must sleep in them
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Postby tandfman » Mon Jun 25, 2007 12:19 pm

ponytayne wrote:Let's see, CJ Harris . . .

Hunter
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Postby ponytayne » Mon Jun 25, 2007 12:20 pm

tandfman wrote:
ponytayne wrote:Let's see, CJ Harris . . .

Hunter

yeah, him...oops
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Postby eldrick » Mon Jun 25, 2007 12:25 pm

ponytayne wrote:Someone on this site said something to the effect of "you are known by the company you keep." Let's see, CJ Harris, Tim Montgomery, and Trevor Graham, and that other coach they worked with a little who worked with Ben Johnson. Notice any similarities?!?!?! Come on people, why do we care what she's going through. You reap what you sew. She deserves to go down in FLAMES for disgracing the sport and herself. Maybe she can put that college degree to use and earn a living in a way where she cant cheat.

Oh, and i AM proud to be an american.


the present "company she keeps" is obadele

a man who was an outstanding athlete & a proud flag-bearer of sprinting

so what does that make marion considering this is the company she is currently keeping ?
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Postby bad hammy » Mon Jun 25, 2007 12:58 pm

eldrick wrote:so what does that make marion considering this is the company she is currently keeping ?

A social climber??
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Postby mojo » Mon Jun 25, 2007 1:17 pm

Are there links to the articles you guys are citing here?

I feel not one iota of sympathy for Ms. Jones.
She lost sight of values, intergrity and morals and this is how it ends up.

I bet she has money hidden away somewhere though. She seems to know a thing or two about evading authorities.

I also bet 7,000.00 doesn't seem like chump change anymore.
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Postby eldrick » Mon Jun 25, 2007 1:21 pm

bad hammy wrote:
eldrick wrote:so what does that make marion considering this is the company she is currently keeping ?

A social climber??


i doubt a beautiful, world-famous, multi global champion wouda been the one doing the chasin'...
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Postby eldrick » Mon Jun 25, 2007 1:24 pm

mojo wrote:Are there links to the articles you guys are citing here?

I feel not one iota of sympathy for Ms. Jones.
She lost sight of values, intergrity and morals and this is how it ends up.

I bet she has money hidden away somewhere though. She seems to know a thing or two about evading authorities.

I also bet 7,000.00 doesn't seem like chump change anymore.


i think it's worth asking a woman's opinion on this :

what are the chances a university educated one-time multi-millionairess who's a single mother & ?again pregnant is now absolutely flat-broke ?
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Postby Pego » Mon Jun 25, 2007 1:32 pm

guru wrote:Really, how many threads about this do we need? :roll:


It is pretty incredible how much venom is on these Marion threads. All of you, self-proclaimed Marion haters are so righteous and self-assured of your own high morals that you think you have this right to cast stones.
What exactly did she do that is so contemptible?

Two failed relationships with drug cheaters. Horrors!
Accused, but never convicted of drug use.
Not always nice. Another horror.

Incredible!
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Postby EPelle » Mon Jun 25, 2007 1:42 pm

dirty laundry. socks smell.
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Postby mojo » Mon Jun 25, 2007 1:51 pm

eldrick wrote:[i think it's worth asking a woman's opinion on this :

what are the chances a university educated one-time multi-millionairess who's a single mother & ?again pregnant is now absolutely flat-broke ?


I don't think a woman's opinion is more relevant than a guy's on this but I could not put myself in Jones' place.


Yes I hang out (here) with some questionable characters but other than that don't have much in common with her. :wink:
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Postby bad hammy » Mon Jun 25, 2007 3:17 pm

EPelle wrote:Can someone explain (as bad hammy has) where there could be such a difference between what is factually on paper, and what was stated in a legal deposition?

The way I read that is that she owed someone $136k and used (presumably) her house as collateral. It does not mean the house is worth $136k.
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Postby eldrick » Mon Jun 25, 2007 4:55 pm

mojo wrote:
eldrick wrote:[i think it's worth asking a woman's opinion on this :

what are the chances a university educated one-time multi-millionairess who's a single mother & ?again pregnant is now absolutely flat-broke ?


I don't think a woman's opinion is more relevant than a guy's on this but I could not put myself in Jones' place.


Yes I hang out (here) with some questionable characters but other than that don't have much in common with her. :wink:


i've come across across a few single-mothers in my time ( none multi-millionairesses ! ) - thru work

my experience is that they fight for every penny like a caged, wounded tigress...
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Postby eldrick » Mon Jun 25, 2007 5:16 pm

EPelle wrote:[img]...
Jones was in some financial trouble, but there still seems to be a discrepancy as to how she arrived at a 2.5M-USD figure. This is a Satisfaction of Security Instrument which states that a company listed on the actual record now owns the indebtedness which Marion Jones had to the grantors in the amount of 136.000-USD. Can someone explain (as bad hammy has) where there could be such a difference between what is factually on paper, and what was stated in a legal deposition?

The fine print...

How does one spend 50K on a vehicle, but lose their home five months later?


you've provided nothing more than a debt-collector's writ for $136k

it says nowhere there that she owes more than $136k

where on a writ does she say she "bought" property for $2.5 million ?

& where the f^ck is her land registry deed showing how much she paid for it ???

all it says is she owes $136k

it doesn't show her purchase price - just that $136k remains outstanding

she can claim anything she likes on the value of her property as long as her lender believes she was "good" for the overall amount according to her declaration, or has the modern business practice of banks offering 5,6...10+ times the amount of mortgage compared to declared income to buy a house for even deadbeats escaped you by in business 101 ?
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Postby lonewolf » Mon Jun 25, 2007 5:44 pm

I have neither animosity toward nor sympathy for Ms Jones. Apparently she has dissipated a large sum of money with little to show for it but none of us know the truth about her financial situation. Public records of selected transactions are not comprehensive and do not necessarily reflect the true value of goods or property. Even a bankruptcy filing may not reveal assets she might have squirreled away.
It is always puzzling when broke folks continue to live large ( I have some debtors like that) but everyone has their priorities...
She was a glorious athlete, never proven dirty, who made multiple bad choices. I hope she gets it all together again... unless she really was cheating
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Postby eldrick » Mon Jun 25, 2007 6:13 pm

lonewolf wrote:Even a bankruptcy filing may not reveal assets she might have squirreled away


they don't

( certainly not in britain )

you may be a billionaire over here, but soon as you realise you may be subject of litigation, you make the money disappear into difficult-to-trace overseas accounts or plain withdraw it & stick it under your mattress & claim you squandered it away on wine/women/song + betting shops/poker/etc but obviously can't remember where & kept no receipts...
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Postby EPelle » Mon Jun 25, 2007 10:28 pm

dirty laundry. clothes line broken.
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Postby SQUACKEE » Tue Jun 26, 2007 2:27 am

From scrub woman to millionaire! What a country. :D ............................................................................................. oh she made horrible and most likely illegal decisions and lost it?..........................This country sucks!
:roll:
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Postby EPelle » Tue Jun 26, 2007 2:53 am

dirty laundry. coin machine won:t work.
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Postby MJD » Tue Jun 26, 2007 3:33 am

eldrick wrote:what are the chances a university educated one-time multi-millionairess who's a single mother & ?again pregnant is now absolutely flat-broke ?


How do we even know she was a multi-millionairess. As I have said time and time and time and time and time and time and time and time and time and time and time and time and time again. Show me the damn money(that means financial statements). I know literally hundreds of people with net worths from minus hundreds of thousands to 20 million whose net worth has NOTHING that even closely resembles what the average bumpkin in the street and even some more sophisticated people might think(in either direction).
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Postby EPelle » Tue Jun 26, 2007 3:42 am

dirty laundry. found change for snickers.
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Postby Pego » Tue Jun 26, 2007 4:39 am

EPelle wrote:MJD you bring up a very good point (as you have brought up many a time): Show us the paper trail. No DENIALS of wrongdoing. Demonstrate it, MJ....show a few valuable RECEIPTS and CONFIRMATIONS that back up your claims. Voila, presto, end of story.


Why should she :roll: ?
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Postby EPelle » Tue Jun 26, 2007 5:22 am

dirty laundry. wet socks stink.
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Postby tafnut » Tue Jun 26, 2007 5:24 am

I'm definitely with Pego here. Why are we so intent on smearing this woman over and over?! Having one's private life exposed in this fashion is over the line, methinks. Does anyone here NOT think she's been paying for her mistakes? Whatever bad karma she created in her life, she is reaping four-fold now. I'm throwing a penalty flag on this thread for 'Piling On'.

The internet creates the 'opportunity' for us to air other people's dirty laundry, but that doesn't mean we HAVE to. We all have stuff we are not particularly proud of in our lives; do we really want it broadcast over the WORLD-WIDE web?

:(
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Postby MJD » Tue Jun 26, 2007 5:30 am

I don't even know what everyone is talking about here. My focus is on the idiotic ramblings about what people may or may not have based on appearances. Millionaires used to be defined as people who were making 50,000 a year because that was interest on 1 million dollars for a year. Another idiotic definition. Unfortunately, because everyone is so focussed on consumption, someone who appears to have a pretty good lifestyle is actually assumed to have some money squirreled away instead of to be leveraging their income.
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Postby SQUACKEE » Tue Jun 26, 2007 5:36 am

EPelle, you know i love ya but if someone suggested that EPelle seems to be a little obsessed with the "Marion thing" i would have to think about my response. :?
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Postby EPelle » Tue Jun 26, 2007 5:38 am

dirty laundry. others are waiting for the machine.
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Postby bad hammy » Tue Jun 26, 2007 5:49 am

SQUACKEE wrote:EPelle, you know i love ya but if someone suggested that EPelle seems to be a little obsessed with the "Marion thing" i would have to think about my response. :?

QFE . . .

:roll:
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Postby EPelle » Tue Jun 26, 2007 5:52 am

Ok guys. I get your points. 370 posts (ca) of 13.580 contain the word Jones (in connection with doping), and I:m over the top. Ok. Done here.
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