Looks like another former NBA player having financial problems, and this woman he was working with surely didn’t help.
Kwame Brown, who enjoyed a long NBA career playing for the Wizards, Pistons, and Golden State Warriors to name a few, believes that his former financial advisors stiffed him out of millions.
The 36-year-old has filed a lawsuit against his former financial advisors to the tune of $17.4 million.
Brown is “suing Merrill Lynch, Bank of America and a financial advisor named Michelle Marquez,” according to The Blast.
Brown was a client of the financial advisors from 2004 to 2017, and according to the documents, they were tasked with handling his income and investing his money in stocks, but only with his consent.
He claims in the suit that Marquez began investing his money without his permission, collecting commissions on trades that he didn’t approve of. Brown goes on to allege that Marquez opened bank accounts in his name without his knowledge and never gave him access to those accounts.
Brown claims he tried calling Marquez in 2017 to discuss the transactions but was unable to get her on the phone, this despite it never being a problem before.
“After several conversations with another employee of defendants, he was told he had no money with Merrill Lynch or Bank of America,” reports The Blast. “The employee told Brown that he had signed authorization documents for defendants to invest, trade or otherwise control his monies.”
The lawsuit is seeking the return of the $17 million plus damages. Good luck collecting Kwame. Hope you saved some money.