Baltimore Ravens wide receiver Anquan Boldin has won a court settlement after his former agent failed to pay back a $170,000 loan that the player gave him to start a sports business, according to federal court papers filed in Florida.
But the case was complicated after the agent, Darrell Eugene Wills, declared bankruptcy, claiming he owed creditors, including Boldin, more than $1 million.
Court papers filed in federal court in Tallahassee, Fla., say that Boldin sued Wills in April last year alleging default on the loan. The player's lawyer argued that Boldin gave Wills $270,000 in March 2004 so he could start Imagine Sports International.
In exchange, Boldin would get back the principal, 7 percent interest and a reduced rate for representation. The loan was due March 31, 2009.
The suit was first reported by the website TMZ.com.
The court documents say that it is against NFL rules for an agent to accept loans from their clients, and that the league decertified Wills as a player representative. Wills filed for bankruptcy protection in February 2011.
A federal judge in Florida granted Boldin summary judgment in October of last year, ruling he was entitled to $280,115. The amount includes the original loan, $83,000 in attorney fees and interest. It is unclear whether Boldin has gotten any money yet. His attorney could not be reached for comment on Tuesday.
In his bankruptcy, Wills, who is representing himself, listed his assets at $271,000, which include his $240,000 house in Tallahassee and a 2005 Mercedes-Benz worth $17,000. He said he had $200 in his checking account, a gold chain worth $100 and clothes worth $150.
Wills said in his court filing that his debts included $81,000 to Bank of America on his mortgage and a $14,000 lien against his car. He also said he owed the IRS $8,000 in back taxes and had more than $465,000 in outstanding loans, including the loan to Boldin.
Wills, who represented himself in the bankruptcy, could not be reached for comment on Tuesday. The answering machine at his house was full and would not accept messages. The number to the company he was going to set up with Boldin's money is disconnected.Copyright © 2015, The Baltimore Sun