Thursday, February 12, 2015

Yet More Bad News for Mike Boogie......

This article from TMZ says it all....


Basically, Mike's finances are $22,000,000 in the hole, and he is filing bankruptcy in an attempt to erase some of that debt.

I'm willing to bet most of Mike's debt stems from restaurant deals gone bad....for example at one point he had two or three spots here in Atlanta, but they all went out of business within a few years.  At the time, Mike and his fellow investors thought investing in the Atlantic Station area was a good idea, but if you live in the ATL you have to chuckle at that idea now.

Hindsight is 20/20 though....

And as TMZ points out, Mike and his partner Lonnie were on the bad end of a few pricey legal judgments.  (And don't forget this one.)  Can you erase legal judgments in bankruptcy? I'm not so sure about that.

One thing is for sure...we know Mike didn't blow a lot of money on clothes...

***ALSO***

Let's not leave this story with a frown on our faces.  Let's remember some of the good times, like when Mike Boogie was partying poolside with a Pre-Rehab Michael Phelps (and his Giant Stache) in the Bahamas.

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