Former quarterback Jim McMahon recently sued the NFL for concussions. And now he’s being sued, for something entirely different.
According to the Chicago Tribune, McMahon was named in a suit filed last month by the Federal Deposit Insurance Corporation. Through the action, the FDIC hopes to recover $104 million in losses arising from 17 failed bank loans.
McMahon, who was a member of the board of directors at Broadway Bank, allegedly approved a $28 million loan that created a $19 million loss for the bank. McMahon also allegedly missed critical board meetings, repeatedly.
The biggest question raised by the lawsuit is this: Why in the hell would anyone make Jim McMahon a bank director?