Peterson sued for allegedly defaulting on $5.2M loan
A Pennsylvania lender is suing Washington Redskins running back Adrian Peterson for allegedly defaulting on a $5.2 million loan, according to New York court documents that The Athletic's Daniel Kaplan obtained.
The sum now stands at $6.6 million after legal fees and interest. Peterson used the loan to pay off other debts, including millions from a "payday lender."
It's a separate case from the $2.4 million a Maryland judge ordered Peterson to pay back after he failed to repay a $4 million lending-service loan from 2016.
A judge canceled Peterson's scheduled deposition Monday due to concerns about a conflict of interest. The legal counsel of the lender, DeAngelo Vehicle Sales, allegedly "surreptitiously represented" Peterson in another lawsuit and gained access to the running back's confidential information, including his NFL contract.
Peterson took out a loss-of-value policy with Thrivest Specialty Funding in August 2016 while a member of the Minnesota Vikings. Three games into that campaign, he suffered a season-ending knee injury.
He was released after the 2016 season and then signed a $3.5-million deal with the New Orleans Saints, triggering the insurance policy (the floor was set at $4 million, with the insurer paying the difference).
DeAngelo Vehicle Sales purchased the claim from Thrivest. Peterson's lawyer, Scott Philbin, argues that the company then had its lawyer, Darren Heitner, advocate on Peterson's behalf.
In doing so, DeAngelo Vehicle Sales obtained "confidential" information that's been used in the loan default case, Philbin wrote.
Heitner denied any wrongdoing and cast doubt on Peterson's ability to repay the money.
"I have no reason to believe that he has the capacity to pay it back," Heitner told Kaplan. "It's very concerning that he has existing liabilities and that there are publicly announced large judgments against him. And so, you know, without even knowing whether he has the capacity to pay those debts " I have no confidence that he'll be able to make any other sort of payment."
Peterson has earned nearly $100 million during his likely Hall of Fame career.
Peterson's attorney Chase Carlson provided a statement Tuesday.
My statement regarding Adrian Peterson: pic.twitter.com/k4BbxuynZM
- Chase Carlson (@ChaseACarlson) July 23, 2019
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