Ex-NFL Jamal Lewis in Legal War Over $350K Pimped Out Ford Truck
Jamal Lewis must be the poster boy for every Broke documentary. TMZ has the story of horrible decision Lewis made when he was still an NFL employee, where he purchased a 2005 Ford F-650 XUV mega-truck for the nominal cost of $150K. He then decided to spend another $200K to make modifications to the already super modified truck.
Lewis eventually went bankrupt after his NFL career was over and is now in a legal battle over this over-priced vehicle. Back in 2011, Lewis was strapped for cash and needed a $35K loan. He decided to use the truck for collateral, but when it was time to pay back the loan, he was $10K short. The lender decided to sell the truck to get back the missing $10K, but Lewis’ gripe with this sale is that his truck is worth much more than this.
The trustee in Lewis’ bankruptcy case is demanding the $140K from the lender, and Lewis is claiming he has no clue where the truck is. The lessons that can be learned from this cautionary tale are too numerous to list.