One of the challenges for professional athletes — no matter how educated and regardless of sport — is there are people looking to prey on them financially.
Even Tim Duncan. At least from his perspective. Duncan filed a $1 million lawsuit against a former financial advisor on Friday, reports the Associated Press.
Spurs star Tim Duncan has filed a lawsuit contending that a series of investments enriched his financial adviser but were losing propositions for the NBA star, including $7.5 million in an entertainment company run by the adviser.
The lawsuit, filed Thursday in San Antonio, seeks more than $1 million in damages against Charles Banks of Atlanta. It claims Banks secretly withheld 20 percent of the return on Duncan’s loan to Gameday Entertainment, for which Banks serves as chairman.
The lawsuit also alleges Banks forged Duncan’s signatures on documents.
The AP tried to reach Banks for comment but could not.
Duncan is no dummy, he discovered the discrepancy while making other financial filings, according to the report.
Whatever the reality of this case, it is just another cautionary tale — pro athletes need to have checks and balances. They can’t trust anyone, even family, completely.
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This is where the pick up of Jeff Green may turn out to be very useful.
Grizzlies reserve guard Vince Carter —who left Thursday night’s Memphis win in the second quarter and did not return — has a left foot tendon injury, the team announced Friday. It was confirmed by an MRI. As for his return…
Carter will be re-evaluated within the next week at which time an update will be provided.
The Grizzlies start Courtney Lee and Tony Allen at the two and three, but now they have Jeff Green can come in for either one of them. Green was recently acquired in a trade with Boston.
Carter is averaging 6 points a game in less than 17 minutes a night this season while shooting 33.4 percent. He has looked like Father Time is winning the race this season. That said he had scored in double digits two of the last three games before the injury.