Getty ImagesLarry Foote has spent 11 seasons in the NFL. He may need to stick around a few more years.
According to the Associated Press, the Steelers linebacker claims that he was tricked into investing more than $400,000 in a Michigan valet service.
In a lawsuit filed Thursday, Foote says that he was approached in 2010 by one of two persons who claimed that money was needed to fund major valet contracts.
Foote is due to earn a base salary of $3 million in 2012.
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“a fool and his money are soon parted”
Who gets approached by people with this stuff and thinks the deal sounds legit? No wonder I still get 100 emails a day saying I won a foreign lottery. People fall for it….
Before i part with a significant amount of cash, u bet your bottom dollar that i will do an intense research on who or what i am investing my money in or on. These guys have too much money than sense.
What is wrong with all these athletes falling for these fraudulent investment schemes? They make so much money, do they have to go out and try to invest hundreds of thousands of dollars trying to double their money? Spend that $400k on some non-risky 5% return investments for 5 years and he’ll have another $110.5k.
I guess the saying is right, a fool and his money are soon parted.
I once bought $15.00 of penny stock lost everything but had fun keeping up with it at one time it was worth $23.00 should have sold can’t win for nothing. (got to do better next time)
homelanddefense says:Jul 12, 2012 4:23 PM
“a fool and his money are soon parted”
Who gets approached by people with this stuff and thinks the deal sounds legit? No wonder I still get 100 emails a day saying I won a foreign lottery. People fall for it….
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I don’t think it’s quite like that. Many NFL players are multi millionaire business men. You can’t just put 10 million dollars in the bank or under your mattress. Some guys invest it in the stock market or real estate, others are angel investors in start up businesses. They can’t just do nothing with their money. Sometimes they make a bad investment.
@Bullcharger
You say “I don’t think it’s quite like that. Many NFL players are multi millionaire business men. You can’t just put 10 million dollars in the bank or under your mattress. Some guys invest it in the stock market or real estate, others are angel investors in start up businesses. They can’t just do nothing with their money. Sometimes they make a bad investment.”
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Do you know how simple it is to take his 3 million dollars and put it into something that will retain its value. Its called gold and on average it sees 20% gains through the course of a year. It is a no risk investment and it is only because people are stupid that it is not a more highly traded commodity
There is a lesson to be learned by Steelers management from what is being said about Penn State’s football program today. What really happened in Milledgeville??????
I’m taking up a collection for Larry. There’s no way he can be expected to live on $3 mil this year. Man’s gotta eat.
A valet service? Like Colbert, he can’t manage a checkbook.
“It is a no risk investment and it is only because people are stupid that it is not a more highly traded commodity”
You’ve been listening to too much conservative talk radio buddy.
I guess this is why he’s paid to play football and not working as a financial adviser. Luckily he’s still a terror on the field!
Valet service in…MICHIGAN? Should have been your first clue.
Just exactly what is a valet service????? Just asking….