46 Reasons Why Athletes Must Monitor Their Finances

This list did not take long to compile and is not close to a full listing of fraud on athletes over the past couple decades. So many different frauds on athletes have been committed by so many different people in the athlete's life, including financial advisors, agents, family members, former athletes, lenders, and business managers.


The lesson that we learn case after case after case is that athletes must monitor their finances on a periodic basis to ensure that the people entrusted with their money are accountable for their actions before it is too late. If you do not think that you can adequately do this on your own, contact BrightLights for a free consultation.


In sum, the 46 cases total approximately $745 Million in damages.

  1. Investment Adviser Defrauds Professional Athlete and His Wife for $1.2 Million
  2. Financial Advisor Steals $2.35 Million from 5 Professional Athletes
  3. Pro-Bowler Presses $7.8 Million Suit Against Brokers
  4. Former NFL Football Player Guilty of $10 Million Fraud, Includes Former NFL Player
  5. Financial Advisor Misappropriated $2.9 Million from NFL Player
  6. $4.5 Million Stolen from NFL Player by Financial Advisor Who Faces Federal Charges
  7. Ex-Kentucky Basketball Director Defrauds 4 NBA Players for $1.3 Million
  8. NBA Player Files Lawsuit Against Former Agent and Financial Managers for Excess Fees
  9. How a Serial Con Man Fooled Silicon Valley and Took an NFL Star for $13 Million
  10. NFL RB Sues Financial Advisor for Misappropriating Millions of Dollars
  11. Ohio Man Steals $350,000 from Pro Athletes through Fraudulent Horseracing Venture
  12. The Trusted Grown-Ups Who Steal Millions From Youth Sports
  13. 100 Pro Soccer Players Victims of $36 Million Investment Scam by Former Player
  14. Attorney Bilked $6 Million from NFL and NBA Players
  15. Financial Advisor and Her Seven Aliases Defrauds  Pro Athletes Out of Millions
  16. Advisor Steals $33 Million from NFL and MLB Players Exploiting Their Christian Faith
  17. NFL Pro Reveals Friends and Family Secretly Spent $1.6 Million of His Money in 10 Months
  18. Former NBA Pro Busted for Charity Fraud Using Pro Athletes Money for Personal Use
  19. Businessman Pleads Guilty to Misappropriating $2.9 Million from NFL Players
  20. Ex-NBA Player's $2.5 Million Ponzi Scheme on NBA Players
  21. Business Manager Indicted for $7 Million Fraud on NBA Player
  22. Former Olympian Defrauds NBA Coach $750k
  23. Financial Advisor $40 Million Fraud of Over 30 NFL Athletes
  24. Lender Deceives Sick and Cognitively Impaired NFL Retirees
  25. Financial Advisor's $30 Million Investment Fraud on Numerous NHL Players
  26. Financial Advisor Misappropriates $750k from Boxer and NBA All-Star
  27. Former NFL Pro's $31 Million Ponzi Scheme Hits Players of the MLB, NHL, and NFL
  28. Financial Advisor Pleads Guilty to Defrauding Star NBA Player of $20 Million
  29. NFL Agent Arrested for $10 Million Fraud and Tax Evasion
  30. Pro Bowler Sues for $20 Million Fraud Case
  31. Young NHL Star Declares Bankruptcy After Parents Borrow $15 Million in Son's Name
  32. 58 NFL and NBA Players involved in $19 Million Ponzi Scheme
  33. All-Star Slugger Sues Advisor $7.6 Million for Fraud and Breach of Fiduciary Duty
  34. NBA Veteran Files Lawsuit to Recover $1.7 Million Lost in Ponzi Scheme
  35. Investment Advisory Firm Charged for Attempting to Defraud NBPA of $3 Million
  36. NHL Captain Sues Agent/Advisor for $7.5 Million Fraud
  37. As Much as $185 Million Defrauded by Financial Advisor to NFL Athletes and Others
  38. NHL All-Star's Agent and Agent's Parents Sued for $11 Million Fraud
  39. During His Career, NHL Hall of Famer Swindled Out of $43 Million by Financial Advisor
  40. Yankee Great Sues Advisors for Fraud of $11.2 Million
  41. NBA Star Sues Financial Advisor for $17 Million for Questionable Investments
  42. Former NASCAR Driver Pleads Guilty to Ponzi Scheme
  43. PGA Star Claims Law Firm Stole $3 Million To Cover Shortfall of Partner's Embezzlement
  44. Financial Advisor Sentenced to 17 Years for $50 Million Ponzi Scheme Targeting Athletes
  45. Sports Agent Convicted of Stealing at Least $12 Million from Several Professional Athletes
  46. NFL Hall of Fame QB's Financial Advisor Cops to $71 Million Investment Scam