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

Head coaching candidates for the Denver Nuggets

Check out these leaked Clippers jersey redesigns

Aqib Talib’s aggravated assault investigation suspended by Dallas PD

Ohio State expects 80,000 at its spring game this Saturday

Bryant strikes out three times in debut; Cubs fans heckle him

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

NBA rookies who disappointed in 2014-15 season

Report: Urban Meyer reassured Belichick about Hernandez

Cuban: Harden is MVP, Rockets are not very good

J.R. Smith: 'I don’t think anyone can beat us'

SCOTUS asked to overturn baseball's antitrust exemption

Is Chip Kelly expecting too much from Josh Huff?

Ubaldo Jimenez hit Pablo Sandoval with pitch, was ejected

NBA to track and post referees’ calls beginning in playoffs

MLB payrolls continue to rise

NBA playoffs: Los Angeles Clippers vs. San Antonio Spurs

Home runs ruined our ability to appreciate production

Why we love the NFL draft

There are only two contenders ... in the West?

Woman stripped of marathon win, didn't actually run in race

Matt Barnes' son betrays him for Steph Curry

WATCH: Padres fan saved from falling by alert cameraman

Kemp hosts Seattle party over OKC missing playoffs

Jim Harbaugh showed up at Ultimate Frisbee practice

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

Leaked Clippers jersey redesigns

Tequila Patron Sports Car Showcase preview

Home runs ruined our ability to appreciate production

Why we love the NFL draft

The "worst" player on each NBA playoff team

Jim Harbaugh showed up at Ultimate Frisbee practice

Julio Cesar Chavez Jr. and the burden of legacy

Kris Bryant and floor versus ceiling

Top 10 storylines of the NBA Playoffs

A-Rod being taken to court over unpaid legal fees

Could Wilson really be a two-sport star?

Five players who must step up in the NBA playoffs

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.