Did you know NBA and NFL Players are targeted off the field by investment fraud?
Investment Fraud: NFL Players Targeted Off the Field wallstreetfraudblog.com
NFL players earn millions of dollars every year for their play on the field. Therefore, it may not be surprising that they are often the targets of investment fraud.
Reminds me of the infamous Depression-era gangster, when asked why he robbed banks, replied “because that’s where the money is.”
This is not a new development. Most NFL players are between the ages of 21 and 30 with little or no business experience and a lot of money to spend. Without experienced guidance, a good con man with a rehearsed sales pitch can get them to shell out huge sums of money. I have experience working a case wherein a con man convinced NHL players to invest in land development projects when he didn’t own the land. He had an excuse every time he was questioned by the investors as to why the project wasn’t progressing. Ultimately, he simply took the money and ran all the way back to Canada! All it takes for these players not to get fleeced is for them, or someone they trust, to do some background work on the legitimacy of salesperson.
, I also have experience with an NFL player who is – well, he is doing VERY well for himself because he got himself a good AGENT in the very beginning and truly is now set for life. And, yet, he continues to work “24/7” because that is the way he is raised – “J, my parents told me that ‘NOTHING in life is easy nor is the easy life promised to ANYone’ ! ”
Yes, he also had good parents !!!
On the other hand, I met a basketball player who after signing a MULTI-million dollar contract has “nada” now !!!!!!
I wonder what the stats are for the NBA or MLB? 78%? I wonder why Congress hasn’t investigated this? Maybe we need a czar.
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