Former All-Star sues over deal gone bad

Updated: March 17, 2010, 7:34 PM ET
Associated Press

NEW YORK -- Former Mets and Phillies star Lenny Dykstra has sued JP Morgan Chase & Co. Inc. for $100 million, saying he didn't get the loan he needed when he bought hockey great Wayne Gretzky's California home.

Dykstra brought the lawsuit in federal court in Manhattan on Wednesday over the property dispute. The lawsuit said he and his wife bought the property in Thousand Oaks, Calif., in March 2007 for $17.4 million but the bank reneged on a pledge to refinance. At the time, Dykstra was writing financial advice columns online.

Dykstra filed for bankruptcy protection in July, saying he owed more than $31 million and had about $50,000 in assets.

Chase spokesman Tom Kelly declined to comment.


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