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Ex-NFL player suing former financial advisor for fraud

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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.

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2 Responses to “Ex-NFL player suing former financial advisor for fraud”
  1. realfootballfan says: May 29, 2017 10:41 PM

    I think that this was identified as Cory Redding.

  2. stevew5 says: May 30, 2017 8:09 PM

    And nuttin’ for the trusting football player. If the NFL is going to license theses agents why don’t they act as fiduciary? It isn’t hard. What would the prudent man do? Make sure the young men get real money managers. That’s hard earned money. Do better, NFL.

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