Bookies Paid with Rolexes<\/strong><\/h2>\nIn post-trial briefs filed to a San Jose bankruptcy court last week, Kane\u2019s lawyer said the reason for the lack of documentation related to the athlete\u2019s betting was because it largely occurred with illegal bookies.<\/p>\n
This meant they \u201coperated in a manner designed to elude record keeping\u201d and their URLs changed “every two to six months,\u201d according to the filing.<\/p>\n
Kane would pay gambling debts with cash or by wire transfer, cashier\u2019s check, bank draft, or even with jewelry, once paying off a $75K debt to a bookmaker with two Rolex watches, according to court filings.<\/strong><\/p>\nBankruptcy law requires that insolvents keep detailed financial records, and Centennial argues that the NHL star has failed to do so.<\/p>\n
Kane’s lawyers were keen to highlight his underprivileged upbringing in Vancouver and his lack of education. That\u2019s because bankruptcy courts sometimes make allowances for individuals who are financially illiterate.<\/p>\n
\u201c[Kane] has never taken any college or college-level courses, nor any courses or training about accounting, money management, or business development (and the NHL does not provide any financial education to its players),\u201d they wrote. \u201cAlthough Kane became a highly compensated athlete in his fourteen-year career, he was raised in a working-class family that never owned a home, struggled financially, and lived month-to-month.\u201d<\/p>\n