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Pro football player sues business manager who allegedly blew $3M in bitcoin scheme
Wealth Management, Lifestyle, FinTech
Darren McFadden, a running back for the Dallas Cowboys, has sued his former business manager for allegedly mishandling his money, including losing $3 million in a bitcoin business venture, The Dallas Morning News reports.
McFadden filed the $15-million lawsuit against his former business manager, Michael Vick (not the same Michael Vick who plays quarterback in the NFL), and 10 other people only known as “Doe”. The Associated Press first reported news of the lawsuit, also noting that it was filed in federal court in Little Rock, Ark.
In an interview with The Dallas Morning News, McFadden indicated that Vick was an old family friend who began handling his finances shortly after he was drafted out of college by the Oakland Raiders in 2008. According to the AP, the lawsuit alleges that Vick used fraudulent documents to gain power of attorney over McFadden’s money, and then fabricated financial records to hide the transactions he was making.
McFadden has earned approximately $46.7 million during his NFL career, according to The Dallas Morning News.
Vick told the AP that he had not seen the lawsuit and declined to comment.
Photo: June Rivera