Wachovia Bank became the third bank to sue Michael Vick for defaulting on loans.  This time the original loan was for $1.3 million.  Vick had an outstanding balance just under $1 million when he and his Atlanta wine partners apparently stopped making payments and the banking covenants were broken due to Vick getting into trouble and getting sacked and all.  Wachovia has added up the interest, principle and fees and is looking for $1.8 million.

Another Crime Kicker for Vick – Check Fraud?

The loan might ultimately get thrown into a Michael Vick bankruptcy, but the kicker here is that the bank has indicated that Michael Vick has checking accounts that are more than $34,000 over drawn.  They did not say that he wrote bad checks, but how else do you get $34,000 over drawn?  (Please enlighten me if you know!)

If he’s out there writing bad checks, he may be in for a date with an Atlanta judge for check fraud sometime soon and who knows what else.

Here is a run down of Georgia’s Bad Check Laws

Georgia. Check for less than $100, fine of not more than $500 or imprisonment not to exceed 12 months or both. check for $100 or more but less than $300, fine of not more than $1,000 or imprisonment not to exceed 12 months or both. Upon conviction defendant required to make restitution of the amount of the check together with all costs, which are presumed to be $20.

When more than one check is involved and such checks were drawn within 90 days of one another and each is in an amount less than $100, the amounts of such separate checks may be added together to arrive at and be punishable as above.

Check for $500 or more; a fine of not less than $500 nor more than $5,000 or by imprisonment for up to three years, or both.

alternatively if he wrote them in Virginia too?

Virginia. $200 or less fine or 10 days to 12 months in jail, or both. One to five years in the penitentiary or fine and jail, or one to ten years penitentiary in discretion of court.

Wachovia Bank sues Vick over business loan | ajc.com