PDA

View Full Version : Chris Zorich



IrishDodger
07-04-2013, 10:13 AM
Facing sentencing for tax evasion, Zorich has negative net worth


Former NFL defensive tackle Chris Zorich faces a July 12 sentencing on failing to file tax returns from 2006 through 2009. Regardless of his jail time, Zorich has significant financial issues.

According to the Chicago Tribune, Zorich’s lawyer says the player’s obligation to repay $348,447 to his charity and $90,000 in back taxes and penalties exceeds his current net worth of $302,273.

“Chris Zorich’s true financial condition is that he faces heavy financial obligations, and he will be struggling to meet them for some time,” attorney Matt Lydon told a federal court in Illinois.

Zorich faces up to 16 months in prison, but there’s a chance he’ll get probation.

He already has paid more than $58,000 in back taxes. Payments to the charity were suspended in April once Zorich’s cash flow went negative.

Zorich, 44, was a second-round draft pick of the Bears in 1991. He played in Chicago from ’91 through 1996, finishing his career in 1997 with the Redskins.

stonebreakerwasgod
07-04-2013, 11:28 AM
He's gonna need Taxmasters.

stonebreakerwasgod
07-04-2013, 11:29 AM
Ending up broke isn't a sound financial plan.

IrishDodger
07-12-2013, 06:40 PM
Chris Zorich gets probation for failing to pay taxes


Former Bears and Redskins defensive tackle Chris Zorich has been sentenced to probation for failing to pay taxes.

Zorich, who pleaded guilty in March to misdemeanor charges of failing to file federal income tax returns, got three years of probation today, according to the Chicago Tribune. He could have been sentenced to up to 16 months in prison.
Zorich, 44, faced up to 16 months in prison under federal sentencing guidelines.

Zorich made more than $1 million from 2006 to 2009 but he didn’t file tax returns on any of that income.

Zorich was often praised, both during his Hall of Fame college career at Notre Dame and during his time with the Bears, for his charitable endeavors. But the Chris Zorich Charitable Foundation mismanaged its money, and after the Illinois attorney general’s office investigated, Zorich agreed to pay back $350,000 in unaccounted for funds from the charity. As part of an agreement to end the attorney general’s investigation, Zorich promised not to take a leading role in any charity in Illinois again.

SUBWAYDOMER
07-13-2013, 12:37 PM
Will he be in the same cell as Timothy Geitner or Charles Rangel? Double standard is disgusting

BigIrish
07-15-2013, 11:58 AM
I thought Zorich was a god when he played at ND. But it's hard to feel sorry for a guy who made pro cash and continued to make good money after that career was over...When you're a celebrity, ignoring your taxes will always catch up to you.

lowayne
07-15-2013, 01:06 PM
No one is arguing that he made a mistake but all the trouble happened after his CPA passed away.