Tim Duncan Reportedly Lost $25 Million In Bad Investments

1527

On the basketball court, Tim Duncan aka The Big Fundamental can do no wrong. At the age of 39, playing in his 19th NBA season, Timmy is still averaging nearly a double-double per game (11 & 9.6) and the Spurs are still an elite squad in the dangerous Western Conference.

Off the court, it has been a different story. 

In January, Duncan filed a lawsuit against his former financial advisor, Charles Banks, claiming that while Banks was getting rich off his money, Duncan was losing millions. To be exact, losing $25 million and then some.

Tim Duncan Reportedly Lost $25 Million In Bad Investments

Now, the Spurs’ big man has filed another lawsuit, in which he contends Banks urged him to invest $1.1 million in a cosmetics company that Banks said was profitable…. #WellActually, the company was on the verge of becoming bankrupt.

Duncan has said that the $25M+ in losses came to his attention during a review of his finances as part of his divorce, and now he’s pursuing punitive damages in addition to the investments that he has lost.

Tim Duncan Reportedly Lost $25 Million In Bad Investments

[Via]

Leave a Reply

Your email address will not be published. Required fields are marked *