Michigan bank sues Capitals forward Sergei Fedorov over unpaid loans

MOUNT CLEMENS, Mich. – A Michigan bank is suing NHL veteran Sergei Fedorov, saying payments have stopped on more than US$2 million in loans.

Citizens State Bank filed a lawsuit Monday against Fedorov, a former star with the Detroit Red Wings who now plays for the Washington Capitals.

The lawsuit, filed in Macomb County Circuit Court, said Fedorov got loans in 2004 and 2005, one for $1.75 million and another for $500,000.

A default notice was sent in May after payments stopped, Citizens State Bank attorney Scott Norton said Tuesday.

READ ALSO:  PODCAST: The Hockey News Radio Show - Feb. 22, 2013

The bank is owed at least $2.1 million in interest and principal, according to the lawsuit.

A message seeking comment was left for Fedorov’s lawyer, Brian O’Keefe of Birmingham, on Tuesday.

Norton said Fedorov offered a Miami condominium as collateral on the larger loan. An 11-year-old horse and an insurance policy are collateral on the smaller loan, according to the lawsuit.

Fedorov played 13 seasons for Detroit from 1990-2003. Columbus traded him to Washington during the 2007-08 season. The lawsuit first was reported by The Macomb Daily.