Originally written on Celtics Town  |  Last updated 11/18/14
Two years ago, I was living in an apartment with some friends who decided to get a dog. I was totally behind the decision at the time, but the dog had an unfortunate tendency to eat anything and everything including my leather wallet with $40 inside. As you might imagine, I was livid. $40 was, well, $40, and it made up an unfortunately large percentage of my net worth.Jason Terry’s net worth is considerably higher than mine will EVER be, but if his allegations against his former financial advisers are true, he lost a heck of a lot more than $40 through the advisers’ involvement in Ponzi schemes. Via Courthouse News Services:Boston Celtics guard Jason Terry claims in court that his financial advisers cost him $2.4 million by putting his money into risky investments, some of which were Ponzi schemes.Terry sued Suntrust Banks, Martin Kelly Capital Management, William C. Crafton Jr., Adam Fein, and CSI Capital Management, in Federal Court. [...][From the complaint] “Crafton specifically told plaintiff that plaintiff could, at any time, get out of the investments Crafton placed plaintiff in because he said very investment he placed plaintiff in was a very safe, liquid asset.“However, contrary to his express representations, defendant Crafton placed plaintiff in high-risk, alternative investments, which were Ponzi schemes or other fraudulent investments run, managed, controlled, operated and/or created by individuals with whom Crafton had a personal relationship, business dealings or kickback agreements. These investments were unsuitable and illiquid and Crafton had some financial interest and undisclosed relationship with each investment that was never disclosed to plaintiff.”According to the story, Terry hired Crafton when he was still in Dallas, impressed with Crafton’s roster of professional athletes. Terry wanted to invest his money conservatively, and Crafton promised to do just that. But, according to the allegations, Crafton didn’t hold up his end of the deal, and now Terry is filing suit for, well, you saw the number.It should be noted that this isn’t the first time Crafton has been accused of investing an athlete’s money in Ponzi schemes. The Courthouse News Service reported back in August that three Philadelphia Eagles and a professional women’s soccer player all claimed to have lost a considerable amount of money to Crafton, and Terry’s allegations are strikingly similar to theirs. Terry has been with Crafton since before the Eagles’ players lawsuit, but it wouldn’t be a surprise if their case brought his attention to his own.I’m far, FAR from a legal/financial expert (I mean, I work in the Wal-Mart deli when I’m not in class or writing here at Celtics Town), but Terry is a very intelligent individual, and he has a financial background, representing the Mavericks as a player rep in the latest NBA lockout. It would be foolish to speculate on a court case, but it DOES seem unlikely that a smart guy like Terry would file suit frivolously.Follow Tom on Twitter: @Tom_NBA. But don’t ask him for financial advice.
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Sherman has torn ligaments, Thomas dislocated shoulder

Goodell turns gown interview with NBC before Super Bowl

Insider information suspected on National Anthem betting

Giants co-owner Ann Mara dies at age 85

Pats-Seahawks tickets most expensive in S.B. history

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Report: Seahawks offer Lynch a huge contract

Super Bowl matchup of low round QBs a rarity

Reporter who broke Deflategate story receiving death threats

Sherman not expecting baby on Super Bowl Sunday

Report: Peyton Manning likely to announce return shortly

Report: Jets, Bills expected to pursue Darrelle Revis

Overtime rules: what happens if Patriots, Seahawks are tied

Seahawks get away with roughing the kicker on punt?

Marshawn Lynch rocks gold cleats during pregame

Earl Thomas did not like ‘Legion of Boom’ nickname at first

WATCH: Kevin Love booed by fans in return to Minnesota

WATCH: Gregg Popovich gets nailed in head with a shot

Tom Brady sounds fired up for Super Bowl

Deion Sanders’ charter school shut down

The six most popular players in Super Bowl XLIX

Tony Dungy voted for Bobby Wagner for NFL MVP

Patriots' footballs were 'just a few ticks' under limit?

2015 Pro Football Hall of Fame class announced

NBA News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Seahawks make Lynch a huge offer?

Super Bowl matchup of low-round QBs a rarity

Kevin Love booed in Minnesota return

Deion’s charter school shut down

Dungy cast the Wagner MVP vote

Report: Jets, Bills to pursue Revis

Did the Falcons pipe in crowd noise?

2015 Hall of Fame class announced

Aaron Rodgers wins NFL MVP

Tim Duncan suing financial adviser?

Five likely cap casualties of 2015

Making the case for NFL co-MVPs

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.