{"id":1588,"date":"2015-01-31T18:01:49","date_gmt":"2015-01-31T18:01:49","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/01\/sun_antonio_spurs_star_tim_dun"},"modified":"2022-03-11T13:40:35","modified_gmt":"2022-03-11T19:40:35","slug":"sun-antonio-spurs-star-tim-dun","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sun-antonio-spurs-star-tim-dun\/","title":{"rendered":"Sun Antonio Spurs Star Tim Duncan Files Texas Investment Adviser Fraud Case"},"content":{"rendered":"

\t\t\t\tNBA All-Star Tim Duncan is suing his investment adviser for securities fraud. The San Antonio Spurs basketball player says that his financial representative, Charles Banks, made investment recommendations based on conflicts of interest. Duncan claims that because of this he sustained substantial financial losses. According to one source, the NBA star lost more than $20 million.<\/p>\n

In his Texas securities case<\/a>, Duncan says that Banks, who gave him investment advice for seventeen years, took advantage of their relationship for personal gain. Duncan claims that Banks suggested he invest several million dollars in beauty products, hotels, sporting goods, and wineries that the latter either had a financial stake in or owned. The NBA basketball player also says that Banks was able to garner a $6.5 million bank loan using Duncan’s forged signature. <\/p>\n

Unfortunately, professional athletes are targeted by financial fraudsters. With their large incomes and, in some cases, inexperience with managing their money and investments, there are scammers who will take advantage of their investment adviser relationship with them to try to make money. Because pro athletes can only play at the NBA, NFL, MLB, and NHL levels for a certain amount of years, unexpected and substantial financial losses caused by securities fraud may prove devastating for athletes and their families.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

NBA All-Star Tim Duncan is suing his investment adviser for securities fraud. The San Antonio Spurs basketball player says that his financial representative, Charles Banks, made investment recommendations based on conflicts of interest. Duncan claims that because of this he sustained substantial financial losses. 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