Ex-NHL Player Could Face Up to a Decade in Prison Due to Botched Gold Investment Scheme

Gold is often regarded as a sound investment choice, but as one former National Hockey League player has come to realize, proper handling is still crucial.

A Risky Venture and Its Consequences

The player in question is Michal Sykora, a veteran of nearly 270 NHL games over his professional career, as reported by AftonBladet. After retiring from professional hockey in 2005, Sykora ventured into gold investments. Initially, everything appeared to be going smoothly.

However, court documents suggest that his fortunes soon took a downturn. The ex-NHL player now finds himself embroiled in a financial debacle, having declared bankruptcy. He is said to owe a staggering $1.25 million USD to a total of 37 creditors, a few of whom are his ex-teammates.

Gold Investments Gone Wrong

But the troubles for Sykora get even worse. Allegedly, he shifted around $250,000 USD from his company into his personal account after declaring bankruptcy earlier this year.

This transfer took place even though none of his creditors had been paid. Adding to the complexity, Sykora states that gold valued in the millions simply vanished from his personal safe, and he claims ignorance of its whereabouts. A conviction on these charges could land Sykora in a Czech prison for up to 10 years.

His NHL Legacy

Michal Sykora, the brother of Peter Sykora - a seasoned NHL player with two Stanley Cup wins under his belt - began his career with the San Jose Sharks in 1992, drafted in the sixth round.

Michal's career was quite varied, including stints with the Chicago Blackhawks, Tampa Bay Lightning, and Philadelphia Flyers, before he chose to continue his career back home. His professional playing career came to an end about 18 years ago now, in 2005.

As Read on MarkerZone - Former NHLer Facing up to 10 Years in Prison in Failed Gold Investment Venture

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