Man Fails to Make $450,000 in Child Support Payments, Arrested in Casino

Child support payments are structured on the income of the person who has to pay them. If they are very successful, the amount they may have to pay per month can be quite high. The purpose of child support is so that an absent parent can provide the amount of financial assistance they would have provided had the parent stayed married.

Sometimes these high payments can make people skip out on their obligations though. A successful day trader was ordered to pay $51,000 a month in child support to his daughter. This may seem very high, but he was a multi-millionaire at the time of the order. However, he had lost $22.7 million in futures recently due to a trading error and stopped making payments.

Police found him at an Atlantic City casino and charged him with failing to make $450,000 in child support payments. He is now in jail awaiting a court hearing.

If sudden financial difficulty makes you unable to meet your child support obligations, seek legal help immediately. It may be possible to get your payments lowered until you can get back on your feet depending on the circumstances. If you live in Washington, call Elise Buie Family Law Group, PLLC for more information.

STAY UP TO DATE

Subscribe to our newsletters

 
Subscribe to one or more of our newsletters, delivering meaningful insight on topics that matter to you and your family.

FURTHER READING

Latest Blog Posts

When parents go through a divorce, child custody can be one of the hardest issues to deal with. But increasingly in American households, pets are part of the family, and separating can create similar concerns over who gets the family pet.

As a Seattle entrepreneur, you’ve undoubtedly dedicated countless hours and resources to building a successful business. You’ve dotted all of your I’s and crossed all of your T’s. But have you considered what will happen to your business after you're…

In today’s world of fast-paced decision-making and on-demand solutions, such as DIY divorces, it is not surprising that many couples contemplate divorce the moment they find themselves unhappily married. Our culture’s fickle mentality often seems to advocate for the idea…

In the wake of divorce or separation, co-parenting can feel stressful. Not only have you just gone through an emotional experience, but you are also now trying to figure out how both you and your co-parent can spend time with…

Far too many families end up fighting, or at least experiencing tension, over a family inheritance, but it does not have to be that way. Having counseled families for years, we offer the following advice to help your family avoid fighting over your property — while you are here and after you die.

If you are getting divorced, you may be worried about what it will do to your finances. Maybe your finances are heavily intertwined with your spouse’s, or you are worried about what your future will look like, given these changes.…

Establishing paternity and parentage is important for many families and parents. Regardless of why you want to establish paternity and parentage, the process has the potential to be confusing, especially if you are unfamiliar with the terms and rules for…

After divorce, you may find yourself living on one less stream of income than you did when you were married and want to find a way to make up for it. Or even if you didn’t lose any income by…

If you are in the process of getting remarried, a prenuptial agreement may be the last thing on your mind. It should be at the forefront of it, however, as it can be beneficial for you, your spouse, and, if…

As a mom of four (now adult) kids, I remember well the flood of emotions that came each time they went to my ex’s, especially during the early days of my separation and eventually after my divorce. Not only was…