Scottie Pippen is regarded as one the of the greatest defenders in the history of the National Basketball Association, but now the six-time NBA Champion is seeking to defend himself from reports that he filed bankruptcy. Pippen filed a lawsuit in Illinois against multiple media outlets seeking $1 million in damages from each of the 10 defendants named. The former Chicago Bull claims he has not been worth less than $40 million in the past 10 years.
“It is a most foul libel indeed to be falsely accused of being bankrupt,” the lawsuit states. “Scottie never filed bankruptcy and indeed has a substantial net worth.”
The Hall of Famer’s nickname of “No Tippin’ Pippen” for his reputation of being stingy with those in the service industry would lead one to believe that he was far more conservative with his money. While some bad investments certainly hurt him financially, the Miami New Times reported on December 14, 2011, that the “only Scottie Pippen in the United States who’s filed for bankruptcy is one Scottie Lee Pippen of Overland Park, Kansas, who filed for bankruptcy in 2005.” The Times said that a CNBC slideshow entitled “15 Athletes Gone Bankrupt” led the way for multiple outlets to run similar lists that included the former Bulls player.
In other words, this blog post is not part of the recent series of “Famous Bankruptcies” on this blog. We will have to see if the more famous Pippen is able to clear his good name, but could you be confused with a famous person? Have you or somebody you know filed Chapter 7 or Chapter 13 bankruptcy and has the same name of a celebrity?
Benjamin Brand Services – Chicago bankruptcy lawyer