Judge Orders Vick To Repay Canadian Bank $2.4 million

Richmond, Va. (AHN) - Atlanta quarterback Michael Vick, already serving time in a U.S. Penitentiary in Leavenworth, Kan., was ordered to repay a Canadian bank $2.4 million for defaulting on a loan.

The Royal Bank of Canada sued Vick in September, saying his guilty plea to a federal dogfighting charge prevented him from repaying the loan.

According to the suit filed in U.S. District Court in Newport News, Va., the loan's terms specify that any employment change negatively impacting Vick's income constitutes a default on the loan.

Vick is serving 23 months in Leavenworth after pleading guilty in 2007 to bankrolling a dogfighting ring in Virginia. He was suspended indefinitely without pay and lost all his major sponsors, including Nike. He also faces Virginia state charges related to dogfighting.

"The criminal charges and resulting impact on the Defendant's employment ... materially affect his ability to repay the Term Note," the bank said in the lawsuit.

An Indiana federal magistrate judge also signed an order last week stating that Vick has agreed to pay just under $500,000 to 1st Source Bank to settle a car dealership loan.

Wachovia Bank in Atlanta is seeking more than $1 million from Vick for a loan intended to finance a wine shop and restaurant in the city.