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Michael Vick's Bankruptcy Case Closed by Judge After Paying Over $17 Million

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Former NFL quarterback Michael Vick paid back more than $17 million in debt, leading to a judge to close his bankruptcy case, BleacherReport.com reported. Vick filed for chapter 11 in 2008 when he was out of the league and down endorsement deals after being sentenced to prison for his involvement in a dogfighting scandal and "owed approximately $17.6 million to dozens of creditors." Vick, who played 13 seasons for the Atlanta Falcons, Philadelphia Eagles, New York Jets and Pittsburgh Steelers, made his last payment in November.

Iowa Farmer Sentenced to Prison for Bank, Bankruptcy Fraud

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A Lake City farmer has been sentenced to 18 months in federal prison for committing fraud to get bank loans, crop insurance proceeds and ease a bankruptcy burden, the Associated Press reported. Federal prosecutors say that Clint Devries was sentenced on Wednesday after pleading guilty in September to two counts of making false statements and one count of bankruptcy fraud. Prosecutors say that he lied from 2013 through 2015 to a bank about the amount of crops he had in storage and other things to obtain farm operating loans. He later defaulted on more than $400,000 in loans from the bank. Officials say he also lied to the Federal Crop Insurance Corp. to fraudulently obtain crop insurance proceeds, and that in 2015, he lied to a bankruptcy trustee about sales of his crops.

Bank of America Settles Mortgage Dispute with California Couple

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A mortgage dispute between Bank of America Corp. and a California couple that led to a $45 million fine against the bank has ended with a settlement that likely trimmed the amount that the bank paid, WSJ Pro Bankruptcy reported. While the exact amount of the settlement isn’t known, bank officials have implied in court hearings that it tops the $6.1 million portion of the fine that Renee and Erik Sundquist were awarded by a bankruptcy judge in March. Consumer-bankruptcy advocates have said the $45 million fine was the largest originating from an individual bankruptcy case. Bankruptcy Judge Christopher Klein called the bank “brazen” and “heartless” in its treatment of the couple as they tried to save their home. He said in his ruling that the fine was meant to be large enough that it wouldn’t “be laughed off in the boardroom.”