Darren McFadden Claims Ex-Financial Planner Mishandled $15 Million

[jadillac]

these dudes all wanna be moguls, but in reality, if you grow up poor and now you get a $20 million check, don't get greedy. Put it in the bank, put it in a savings bond or interest bearing account that will make you something. In the off-season take some finance classes/do some research....just chill until you get a little more business savvy.

Easier said than done I guess.....

 

[tru_m.a.c]

Dallas Cowboys running back Darren McFadden has sued his longtime business manager, saying he misappropriated and mishandled money throughout his NFL career, including $3 million lost in a bitcoin business venture.

@Domingo Halliburton

 

[Master Teacher]

Once again anybody who lets somebody with less money than them control their money deserves to be robbed.

 

[Colin X]

at trusting "family friends" instead of going to actual financial advisors and people that work for reputable companies

I never understood that shyt


You got folks out here who spend 4 years at college, go through training, and spend their ENTIRE LIFE working on the ins and outs of money.


And nikkas choose to trust family and friends instead

shyt makes zero sense

 

[Ghostface Trillah]

Not all of these guys are dumb..I'm sure a nice percentage are but I won't paint every football player under that umbrella. Its the individual imo cause its a jump even for a middle class person who makes $50,000 a year to now making millions is a huge jump as well. Its close to the same level as someone 'broke'. Then every person has their own definition of what's broke status and what's not.

A huge majority of them are. It's why they're easy prey. If you did a survey or something I'd bet like 90% of the black players in the league come from poverty. For every Grant Hill type there's 20-40 Terrell Owen's. You can believe that you have the right people in your corner but like I said a lot of these money leeches are put on you by your own agent or suckered family members

 

[Big Boss]

@Domingo Halliburton

What's funny bruh?

 

[Big Boss]

I've said it before, my oldest brother does legal and financial work for entertainers and athletes and he gave me that look that all breh's know,looked me in the face and said "Bro, these guys are just, dumb. There's no magical reason, there's no huge con, they're just dumb. We think because they're on the screen or on the court and in commercials that they're at least somewhat there mentally, but no bro, these guys are dumb, and they're working targets."
I could tell it hurt him to say it because he was talking about black athletes and entertainers, but it's the truth.

 

[pete clemenza]

A huge majority of them are. It's why they're easy prey. If you did a survey or something I'd bet like 90% of the black players in the league come from poverty. For every Grant Hill type there's 20-40 Terrell Owen's. You can believe that you have the right people in your corner but like I said a lot of these money leeches are put on you by your own agent or suckered family members

GTFOH!!! 90% come from poverty??? Straight poverty is beyond broke my dude. Maybe 20% tops. Broke means these kids coming up have a roof over their heads, food on their plates, and gear for school but their parent(s) might be on some type of government assistance or live paycheck to paycheck but that's not f*cking poverty where you literally don't have sh*t. Only a select few from actual poverty make it into pro sports in the first place. Alot of these dudes grew up in decent to good homes. Xboxs, the latest gear, cell phones, internet access, etc. You trippin breh

 

[Bless't]

"Ballers"

Art imitating life.

Sheesh.

 

[King Poetic]

All these athletes has to do when u signed your big contract is but the money in your bank account..... then do something u never did in college, read up on investments and studied every business venture u thinking about getting into....

These nikkas sit up and watch to many fukking movies like wolf of wall street and thinking this about to be me..

 

[R.E.N. Spells Ren]

Why would you grant him power of attorney?

Trust family friends to have power of attorney of YOUR finances brehs.....

Y'all just gonna ignore this....

....McFadden's lawsuit said that two days after his 2008 debut with theOakland Raiders, Vick used fraudulent documents to gain power of attorney and later fabricated fictitious financial records to hide what he was doing.....

Not absolving McFadden completely, tho

 

[R.E.N. Spells Ren]

All these athletes has to do when u signed your big contract is but the money in your bank account..... then do something u never did in college, read up on investments and studied every business venture u thinking about getting into....

These nikkas sit up and watch to many fukking movies like wolf of wall street and thinking this about to be me..

Lol, or they can just keep it 100, and realize they're not Warren Buffett, they're not Peter Fenton (venture capitalist). Put it in a major bank, use their financial services (i.e. Merrill Lynch to Bank of America) and enjoy life. If they can avoid the pitfalls of illegitimate children and failed marriages, they'll never go broke.

 

[Kobes Two Jerseys]

at trusting "family friends" instead of going to actual financial advisors and people that work for reputable companies

fukk that plan too. Somebody needs to get to these young cats early and start telling them that if they have a chance to go pro, major in finance while in college so you handle your bread yourself. Its almost 2020 and people still haven't learned?

 

[Won Won]

According to McFadden, he discovered the fraud when Vick attempted to sell him a building that had been purchased with McFadden’s own funds.

The suit accuses Vick and 10 other unnamed defendants.

 

[theflyest]

I've said it before, my oldest brother does legal and financial work for entertainers and athletes and he gave me that look that all breh's know,looked me in the face and said "Bro, these guys are just, dumb. There's no magical reason, there's no huge con, they're just dumb. We think because they're on the screen or on the court and in commercials that they're at least somewhat there mentally, but no bro, these guys are dumb, and they're working targets."
I could tell it hurt him to say it because he was talking about black athletes and entertainers, but it's the truth.

Yep

People would understand if they've had the opportunity to interact with these guys.

Sad thing is people actually worship these dumb nyggas.