The firm has successfully represented a number of professional athletes who have lost money in investment scams or due to fraud. We have handled cases on behalf of the first round draft pick of an NFL football team, an All Star major league baseball (MLB) player and other professional athletes.
Professional athletes such as NBA basketball players, MLB baseball players, NFL football players and the like are often the target of investment fraud due to their relative inexperience in handling money, coupled with their large salaries and endorsement opportunities.
According to CNBC, 60 percent of NBA players go broke within five years of departing the league, and 78 percent of former NFL players have financial troubles within two years after retirement.
Due to the injury rate as well as the fickle nature of sports, sometimes, that one big year signing bonus has to last a lifetime. And, because signing bonuses and athlete’s salaries are highly publicized, professional athletes are prime targets of investment fraud.
If you believe that you have been scammed by an investment, contact our offices immediately and we can discuss your legal options.
Contact Melanie S. Cherdack
Call 305-290-1096, toll free at 800-806-1614 or complete our contact form to schedule your free initial consultation.