Where did all the money go? The millions of dollars that Riddick Bowe allegedly earned during his illustrious run in the sweet science has disappeared. The former champ owes everyone under the sun, lawyers, brokers, businessmen, banks, furriers, and last but not least the state.
Boweâ€™s moneyâ€™s not gone exactly. Itâ€™s just not Big Daddyâ€™s anymore.
Former heavyweight champion of the world Riddick â€œBig Daddyâ€? Bowe filed for Chapter 11 bankruptcy protection last week, listing more than $4.1 million in debt, and assets of between $1 million and $10 million dollars.
Big Daddy filed when he did to beat a new federal that law went into effect on Monday. According to his attorney Paul Nussbaum, Bowe's client's debts were tied to "business transactions and related litigation and liquidity issues."
Bowe is facing a $3 million claim from an investment fund in Vienna, Virginia; claims worth $311,000 from credit companies; and $705,000 claimed by a California financial services company. The champ also owes $5,400 to Prince George's County.
Riddick Bowe won the title when he beat reigning heavyweight champion Evander Holyfield in 1992. He subsequently lost, won and lost the crown again, and after joining and quitting the Marines in 1997 , Bowe was arrested the following year for kidnapping his ex-wife and children from their North Carolina home in a Mad Max moment.
Bowe served 17 months in the slammer before being released in 2004.
His post-prison life has not been idyllic. The brain damage excuse he used to get a lenient sentence in his kidnapping case has thwarted his attempts to get licensed in the U.S. to fight. Boxing commissions across the land use that information as though it was kryptonite in Superman's face.
Bowe did fight in 2004 and 2005, winning both bouts, but no one is calling for a rematch.
He has a record of 42-1, with 33 knockouts â€¦ and no money. Read more at the BLOG