As far as we know, J.B. Smith is still a contender to buy the Atlanta Thrashers. We have heard about some interesting and frankly unappealing aspect of his past, but this most recent development makes it look like he doesn't have much of a shot of buying the team and keeping it in Atlanta.
According to a press release from a identity theft security firm that Smith used to be a part of called iSekurity, Smith was removed from his position in the company. But the bigger problem is that he was ordered by a court to pay the company $1.9 million, and has allegedly not come through with any payments.
In addition, the Oakland County Circuit Court entered a $1.9 million judgment against JB Smith, banned him from all positions with Equity 11 and iSekurity and ordered him to relinquish any ownership in these companies. JB Smith has not made any payments on this judgment. Several other creditors are also seeking payment from JB Smith." The Court took this action in Oakland County Circuit Court Case No. 10-1100121-CB.
Now we can't rush to judgment about this case, because we have not heard Smith's side of the story, and there are sure to be many details that will emerge as time goes on. But this is not a good situation for a potential buyer of a sports team to find himself a part of.