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Vince Young suing former agent, financial adviser

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Sometimes when players squander money, it’s not the players who squandered it.  Allegedly.

Bill quarterback Vince Young, the third overall pick in the 2006 draft, has sued his former agent and financial adviser for essentially stealing his cash, according to the Houston Chronicle.

Young’s lawyer, Trey Dolezal, explained Monday that the lawsuit aims to determine “what happened to a large sum of money that there’s no accounting for.”  Young signed a contract worth at least $54 million with the Titans.

The civil complaint accuses Major Adams, Ronnie T. People, and Peoples Financial services of a variety of violations, including fraud, usury (i.e., charging excessive interest rates), breach of fiduciary duty (i.e., screwing someone they had an obligation to protect), conversion (i.e., taking his money and treating it as their own), and breach of contract (i.e., um, breach of contract).

“There has been at least some evidence that there has been some fraud and some forgeries using [Young’s] name over the last several years that we believe that Major Adams and Ron Peoples are responsible for,” Dolezal said.  “We have no idea how much money is missing.”  (Those practices didn’t end well for Lane Price.  But at least he was able to scratch “kick the crap out of Pete Campbell” off his bucket list.)

Adams, a family friend from Houston, was grossly inexperienced when Young hired him. NFLPA records reveal that Adams, though still certified to represent players, has no clients on active NFL rosters, even as rosters stand at a maximum of 90.

Young has since retained CAA, which also represents Ryan Fitzpatrick, the starting quarterback in Buffalo, and a lot of other players throughout the league.  Young likely would call it a Dream Team of clients.

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16 Responses to “Vince Young suing former agent, financial adviser”
  1. joetoronto says: Jun 12, 2012 7:27 AM

    Young’s lawyer, Trey Dolezal, explained Monday that the lawsuit aims to determine “what happened to a large sum of money that there’s no accounting for.” Young signed a contract worth at least $54 million with the Titans.

    The Titans want to know what happened to the money they paid you too, Vince.

  2. k0mbucha says: Jun 12, 2012 7:31 AM

    I hate to hear stories like this, even though it’s not VY’s fault this guy stole large amounts of money from him Young should have been more diligent in researching this guy’s background before giving Major Adams control of his funds.

    Seriously bad decision on Vince Young’s side in not doing so.

  3. nbaraie says: Jun 12, 2012 7:43 AM

    Keep family and friends out of your finances dummy.

  4. wvuandsteelers says: Jun 12, 2012 7:45 AM

    A fool and his money are soon parted.

  5. almighty1 says: Jun 12, 2012 8:01 AM

    Absolutely shocked that a family friend with NO experience in the business was unable to secure his finances. NFL players are bad enough at wasting money, they don’t really need crooks to assist.

  6. jimmysee says: Jun 12, 2012 8:06 AM

    Was Vince Young listening and taking notes at the NFL rookie seminar when they discussed money management?

  7. geraldthecat says: Jun 12, 2012 8:07 AM

    Can’t believe someone thought that anyone as smart as young would not notice.

  8. exboomer says: Jun 12, 2012 8:19 AM

    I feel sorry for anyone who is screwed out of their money by someone else. Yes VY should of hired people a lot more competent to handle his affairs but ultimately it is his responsibility to know what is happening with his money. I know if I had that kind of cash I would be watching it like a hawk.

  9. maxpower1912 says: Jun 12, 2012 8:30 AM

    I don’t understand how you can trust someone named “Ronnie T. Peoples”. Art Vandelay thinks that’s a made up name.

  10. thegrey7 says: Jun 12, 2012 8:33 AM

    For some reason this is not surpring. It sounds like the type of thing that would happen to Vince Young.

  11. xxwhodatxx says: Jun 12, 2012 8:34 AM

    It can’t be Young’s fault he’s an NFL player, you know nothing is ever their fault.

  12. jpaq68 says: Jun 12, 2012 8:48 AM

    He ought to sue his current agent for letting him sign with the Bills.

  13. sooner712 says: Jun 12, 2012 9:51 AM

    It’s amazing how folks can judge others without knowing all the facts. Smarter people then VY have been duped by so called friends ask the victims of Bernie Madoff. And Mr. Madoff was a long ways off from being inexperience. I’m glad he caught him before it was way too late. At least Vince had enough sense to not give power of attorney to the guy.

  14. rc33 says: Jun 12, 2012 10:02 AM

    Solid decisions, Vince.
    Master P was too busy?

  15. swingondeesenuts says: Jun 12, 2012 12:55 PM

    Sorry but I have NO pity for people who can’t even watch over their own money regardless if it is a stupid pro athlete or a guy who fell for Bernie Madoff’s promises of 20% returns.

    Vince should be happy to even be in the league at this point. Outside one lucky game against the Giants last season, he hasn’t played even average football in nearly two seasons.

  16. franklamar17 says: Jun 12, 2012 11:06 PM

    VY is not the first person who has been taken to the cleaners…do you all watch tv seems ever day some one is running a scam etc…like my grandfather would say,I trust everybody ,but the devil in them is what scares me

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