A former unnamed NFL player has brought a lawsuit against his former financial advisor, Kenneth Ray Cleveland, alleging he deliberately mismanaged more than $4.5 million in the player’s funds
According to the Associated Press, Cleveland was indicted on seven counts of wire fraud and three counts of felony money laundering.
Instead of investing the player’s money, he allegedly used the money to pay other clients and use on personal expenses, including his home mortgage and credit cards.
The charges against Cleveland would bring a maximum of a 10-20 years in jail and a maximum fine of $250,000.
Dallas Cowboys running back Darren McFadden is also currently involved in a lawsuit against his former financial advisor.