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

Cristiano Ronaldo nets hat trick, sets career high for goals

WATCH: Cormier tells Jones to get his s-- together

Fans holding 'Free Tom Brady Rally' at Gillette Stadium

Josh Hamilton to be activated by Rangers

WATCH: Top CB recruit makes insane catch doing backflip

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Biggest surprises of the MLB season

Marcus Mariota leads NFL in jersey sales for May

Report: Scott Skiles frontrunner for Magic coaching job

Shanahan: injuries are not why Robert Griffin III struggles

Kyle Korver ruled out for remainder of playoffs

Randy Moss attends cancer survivor's graduation

Jim Harbaugh compares his driving to Jeff Gordon's

WATCH: High school seals win with perfect hidden ball trick

Warriors crush Rockets in Houston to take 3-0 series lead

WATCH: D'Angelo Russell whiffs on horrible golf swing

Brian Matusz ejected for having foreign substance on arm

PHOTO: Don Cherry wears wild suit even for his taste

PHOTOS: Gigantic sinkhole at Jack Nicklaus golf course

WATCH: Memphis player catches defense sleeping, scores

WATCH: Astros turn around-the-horn triple play

French Open Women's preview: Who will make the quarters?

WATCH: Bryan Price gets ejected before game starts

WATCH: Vin Scully narrates fan's marriage proposal

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

Eight biggest surprises of the MLB season

Bryan Price ejected before first pitch

Vin Scully narrates marriage proposal

Pats fan's obituary defends Brady

Marlins players skip own charity event

John Wall tells All-NBA Team voters to ‘keep sleeping’

Jim Kelly: No doubt Tom Brady cheated

Post-combine NBA Draft big board: Top 30

Ex-players sue NFL for conspiring to push painkillers

Astros surprising, but can get better with Correa

Here come the Giants

Aaron Hernandez got new tattoo in prison

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.