Saturday, March 04, 2000
Firstar Bank takes Van Exel to court
The Cincinnati Enquirer
Firstar Bank has sued Denver Nuggets guard Nick Van Exel, saying he fraudulently claimed he couldn't afford to pay his $19,000 credit-card balance.
The former University of Cincinnati standout, who signed a $50 million contract with the Nuggets last year, refused to comment. He referred questions to his lawyer, Scott Boatman, who said Friday that the issue is “largely a misunderstanding.”
“We are close to working this out and I anticipate it being done by next week,” Mr. Boatman said.
The suit, filed Friday in Hamilton County Common Pleas Court, alleges that a representative claimed Mr. Van Exel “lacked the financial ability to make full payment” on the $19,000 balance on his platinum Visa card.
A Firstar employee, unaware that Mr. Van Exel was a professional athlete, accepted a $12,000 check in settlement of the account.
The check was received Aug. 23, 20 days after Mr. Van Exel signed his Nuggets contract guaranteeing $50.5 million over five years.
The bank contends Mr. Van Exel's representative was obliged to inform it of Mr. Van Exel's position.
However, Mr. Boatman said that at the time of the settlement, Mr. Van Exel was still unsigned and had no way of knowing he would sign with any professional basketball team.
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