Vince Young cites 'betrayal' for financial woes

[BillsFever21]

Former NFL quarterback Vince Young is downplaying what he calls ''unfortunate'' financial problems caused by the ''betrayal'' of trusted advisers. ''Yes, I need a job, who doesn't. Yes, I want to be out there playing the game I love and earning a paycheck, who wouldn't?'' Young wrote on his Twitter account Wednesday.

Young, who received a contract that guaranteed him $26 million when the Tennessee Titans made him the third player taken in the 2006 draft, also wrote that he is working to rectify financial losses ''which stemmed from betrayal by those I trusted most.''
Young is suing his former agent, Major Adams, and a North Carolina financial planner, Ronnie Peoples, claiming they misappropriated at least $5.5 million of his money.
Young also alleges that the pair took out a loan for nearly $1.9 million in his name without his knowledge during the NFL lockout in 2011 and kept the proceeds for themselves.

http://sports.yahoo.com/news/vince-young-cites-betrayal-financial-191047617--nfl.html

[BillsFever21]

Chalk up the list of another athlete to make 10's of millions of dollars and still broke either before they're done playing or shortly after.

If he did get ripped off by his agent it wouldn't be surprising. Many of these guys need to take control of their own money instead of letting other people who would use them as a target and rip them off.

[coastal]

A tragic and sad story.

[stuckincincy]

A tragic and sad story.

Yep...old and young, rich or poor, the sharks always circle. 6 years or so, some big names, some big name athletes, here in the CIN area got taken to the cleaners. The crooks peddled under the name of Ben-Mar. They worked their game at a posh golf club and the vics ridiculed others that didn't bite. After the trial and convictions, the folks who eschewed forking over their cash held a dinner to laugh at the jerks that called them names for not jumping on their bandwagon. Justice won out.

Arrogant, self-centered folks with a lot of jingle are the easiest mark.

If I ever hit it big, I'll follow the Kennedy clan and stuff the dough into a Fiji bank. :plane:

[BillsFever21]

Yep...old and young, rich or poor, the sharks always circle. 6 years or so, some big names, some big name athletes, here in the CIN area got taken to the cleaners. The crooks peddled under the name of Ben-Mar. They worked their game at a posh golf club and the vics ridiculed others that didn't bite. After the trial and convictions, the folks who eschewed forking over their cash held a dinner to laugh at the jerks that called them names for not jumping on their bandwagon.

Arrogant, self-centered folks with a lot of jingle are the easiest mark.

If I ever hit it big, I'll follow the Kennedy clan and stuff the dough into a Fiji bank. :plane:

I go by the motto that if it sounds too good to be true it usually is.

My barber has tried to get myself and others to invest in some internet product he says he is in. He wanted me to come to a seminar and hear the guy and what his investment is. He has tried so hard with so many people you know he's getting a commission for everyone he brings in. I trust him I just don't trust the person. He's supposedly an "honest" guy who was a teacher at one of the local colleges in the area.

He claims to get a 5%-10% return EVERY month of whatever money he has invested. Once I heard that it sounded like it had a Bernie Madoff and ponzi scheme written all over it. How many legitimate investments are going to pay you a return of 60%-120% a year. Usually them are the ones you hear of that turn out to be ponzi schemes and take most of the people to the cleaners.

He has been in it since early on so he might get lucky if it is. It's usually the later ones who end up being left holding the bag. He named off some famous people who are invested in it like Scottie Pippen. Just because somebody has money and is famous doesn't mean they can't get taken for a ride. You see it all the time.

[imbondz]

never a fan of vince young. don't have much sympathy

[THRILLHO]

I have a tough time feeling sorry for those who took out "lock out" loans.

[stuckincincy]

[QUOTE=BillsFever21;3685399]I go by the motto that if it sounds too good to be true it usually is.

/QUOTE]

Yep. I worked in process engineering in a 5K population auto assembly plant for 11 years. 6 out of 8 hours, I was on the production floor. The scams were very prevalent.

[kishoph]

I go by the motto that if it sounds too good to be true it usually is.

My barber has tried to get myself and others to invest in some internet product he says he is in. He wanted me to come to a seminar and hear the guy and what his investment is. He has tried so hard with so many people you know he's getting a commission for everyone he brings in. I trust him I just don't trust the person. He's supposedly an "honest" guy who was a teacher at one of the local colleges in the area.

He claims to get a 5%-10% return EVERY month of whatever money he has invested. Once I heard that it sounded like it had a Bernie Madoff and ponzi scheme written all over it. How many legitimate investments are going to pay you a return of 60%-120% a year. Usually them are the ones you hear of that turn out to be ponzi schemes and take most of the people to the cleaners.

He has been in it since early on so he might get lucky if it is. It's usually the later ones who end up being left holding the bag. He named off some famous people who are invested in it like Scottie Pippen. Just because somebody has money and is famous doesn't mean they can't get taken for a ride. You see it all the time.


If it sounds too good to be true, it usually is.