Escrow Account For Kilpatrick Book Profits Created
Updated On: Oct 07 2011 02:39:04 AM EDT
It's official. An escrow account has been created to hold any profits made from a tell-all book by former Detroit Mayor Kwame Kilpatrick.
Wayne County Judge David Groner ruled June 15 that the account would be created after the request of the Wayne County Prosecutor's Office.
The account was officially created Friday. The Wayne County treasurer's office is the escrow agent for money from the sale of Kilpatrick's memoirs.
After a nearly two-hour long hearing, Groner said Kilpatrick would be able to profit from any book sales of "Surrendered! The Rise, Fall and Revelation of Kwame Kilpatrick," but not until the $861,000 in restitution he owes Detroit was repaid.
"Mr. Kilpatrick can profit after he pays his bills, and the publisher can always profit," Groner said. "An escrow account shall be created for the profits received, or to be received, and there's not need for a restraining order or preliminary junction."
Kilpatrick was in court but didn't make any official statements. He did however utter into media cameras on his way out of the room.
"I say it all the time. I want to pay my restitution. ... I just don't want the harassment from Miss Piggy the prosecutor," he said.
Wayne County Prosecutor Kym Worthy had asked the court to approve the creation of an account. She said it was "highly unlikely" that Kilpatrick could be trusted to handle the money.
Court Documents:Prosecutor Requests Kilpatrick Forfeit Book Profits
Groner also granted a protective order to keep the actual book contract between the publisher and Aktion Enterprises, which is run by Kilpatrick's sister, Ayanna Kilpatrick, sealed. Aktion will get 50 percent of the book profits.
Kilpatrick's book is scheduled to come out on Aug. 1.
He promises to talk about the scandal that put him in prison and ended his career as Detroit mayor in 2008.
Who do you think the money should go to?