Former Dallas Cowboy running back, Darren McFadden, is suing his financial advisor, Michael Vick (not the former quarterback), for costing him a $237 million loss. The retired athlete was allegedly prevented from investing $3 million in bitcoin some years ago when his financial advisor kept the money for himself. An investment fraud attorney, Chase Carlton, did some calculating and concluded that an initial bitcoin investment of $3 million, would be with $237 million today. Unsurprisingly, as the famed cryptocurrency is worth about $18,800 today, growing over 900% since May of this year alone.
Vick has been working with McFadden since 2008 when he allegedly forged documentation to be able to handle McFadden’s finances and effectively stole from the NFL player. McFadden first filed a $15 million lawsuit against Vick in 2016, stating that Vick “misappropriated and mishandled” about $15 million of his fortune.
"Rather than securing for Plaintiff a lifetime of financial security as Defendant Vick promised Plaintiff, Defendant Vick covertly used Plaintiff's income as his personal slush fund to subsidize his own lifestyle and expenses and to invest in his own projects," the lawsuit reads.
McFadden enjoyed a long, 10-season career with the Raiders and Cowboys, earning a total of $49,322,000 through football contracts, according to Spotrac.
Source: complex.com
