LadyStanley
Registered User
http://www.latimes.com/sports/la-sp-robitaille-kings-20110519,0,4305853.story
With Boots' issues, Robitaille is on the hook for a $2m line of credit.
LA Kings working with Luc to resolve situation.
Edit:
With Boots' issues, Robitaille is on the hook for a $2m line of credit.
LA Kings working with Luc to resolve situation.
Edit:
Robitaille and Del Biaggio were partners in purchasing the Omaha Lancers of the U.S. Hockey League and a petroleum company and planned to invest in real estate. Robitaille connected Del Biaggio with Leiweke, and Del Biaggio signed a contract to own and operate an NHL team in the AEG-operated arena in Kansas City, Mo. When Del Biaggio instead decided to become a minority owner of the Nashville Predators, he borrowed $7 million from AEG to close the purchase from then-Predators owner Craig Leipold.
Robitaille filed a lawsuit against Del Biaggio in 2008 alleging the former Silicon Valley investment guru misused a line of credit they had taken out in 2006 by transferring money into his own account instead of using it for real estate purchases. Del Biaggio pleaded guilty in 2009 to one charge of forging financial documents to obtain $110 million in loans. He was sentenced to more than eight years in prison for bilking investors and banks of millions of dollars and was ordered to pay a total of $47.5 million to eight banks, Leipold — now the majority owner of the Minnesota Wild — and AEG.
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