18 Ex-Players, Including Shannon Brown, Arrested for Health Care Fraud

 
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Aeneas Hunter
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PostPosted: Thu Oct 07, 2021 7:32 am    Post subject: 18 Ex-Players, Including Shannon Brown, Arrested for Health Care Fraud

https://thespun.com/nba/nba-healthcare-fraud-scheme-glen-davis-sebastian-telfair-tony-allen-wife-18-players

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18 former NBA players have been arrested and charged by federal officials with defrauding the NBA’s Health and Welfare Benefit Plan, according to NBC News’ Tom Winter and Jonathan Dienst. Among the most significant names involved: Glen “Big Baby” Davis, Sebastian Telfair, and former Memphis Grizzlies defensive star Tony Allen.

Milt Palacio, Antoine Wright, Darius Miles, Ruben Patterson, Eddie Robinson, Gregory Smith, Jamario Moon, Terrance Williams, Alan Anderson, Shannon Brown, William Bynum, Melvin Ely, Christopher Douglas-Roberts, C.J. Watson, and Tony Wroten are also involved in the alleged scheme. Desiree Allen, Tony Allen’s wife, has also been charged.

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audioaxes
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PostPosted: Thu Oct 07, 2021 7:57 am    Post subject:

you would think they'd cut ship and cover their tracks after the similar NFL bust but I guess not.
And they schemed for an average payout of only 133K per player? thats pennies compared to their career earnings.

I think the NBA should save these players from themselves by increasing the pension plan while making players pay in a certain % of their salary to cover it
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lakersken80
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PostPosted: Thu Oct 07, 2021 9:14 am    Post subject:

Most of these dudes were journeyman players. Seems like life without the NBA meant they needed to find some other way to make easy money.
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PostPosted: Thu Oct 07, 2021 12:11 pm    Post subject:

audioaxes wrote:
you would think they'd cut ship and cover their tracks after the similar NFL bust but I guess not.
And they schemed for an average payout of only 133K per player? thats pennies compared to their career earnings.

I think the NBA should save these players from themselves by increasing the pension plan while making players pay in a certain % of their salary to cover it


I don't know when the next CBA is, but this needs to be added IMMEDIATELY.
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PostPosted: Thu Oct 07, 2021 2:09 pm    Post subject:

lakersken80 wrote:
Most of these dudes were journeyman players. Seems like life without the NBA meant they needed to find some other way to make easy money.


Miles made 62MM in his career and blew all of it. Incredible
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PostPosted: Thu Oct 07, 2021 3:00 pm    Post subject:

Unfortunately its not surprising he blew it all most people who get into that type of $$$ they've never seen don't think long term about saving it or that the gravy train will end at some point.

I should be outraged but health insurance companies have defrauded most of the public for way worse so *shrugs*
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activeverb
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PostPosted: Thu Oct 07, 2021 3:07 pm    Post subject:

audioaxes wrote:
you would think they'd cut ship and cover their tracks after the similar NFL bust but I guess not.
And they schemed for an average payout of only 133K per player? thats pennies compared to their career earnings.

I think the NBA should save these players from themselves by increasing the pension plan while making players pay in a certain % of their salary to cover it


It's well documented that a lot of professional athletes blow through their money.

The NBA has financial counseling and other programs for players, but ultimately there's just so much they can do. If a player chooses a bad financial advisor or pours his money into a flashy investment that goes bust, there's not much the league can do.

The pension plan is a partnership between the NBA and player's union. So the NBA can only save the players from themselves if the players go along with being saved.
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audioaxes
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PostPosted: Thu Oct 07, 2021 4:10 pm    Post subject:

activeverb wrote:
audioaxes wrote:
you would think they'd cut ship and cover their tracks after the similar NFL bust but I guess not.
And they schemed for an average payout of only 133K per player? thats pennies compared to their career earnings.

I think the NBA should save these players from themselves by increasing the pension plan while making players pay in a certain % of their salary to cover it


It's well documented that a lot of professional athletes blow through their money.

The NBA has financial counseling and other programs for players, but ultimately there's just so much they can do. If a player chooses a bad financial advisor or pours his money into a flashy investment that goes bust, there's not much the league can do.

The pension plan is a partnership between the NBA and player's union. So the NBA can only save the players from themselves if the players go along with being saved.

yes ofcourse the players union would have to be in agreement for something like that to happen but I dont see why they would resist as it definitely helps the players as whole
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PostPosted: Fri Oct 08, 2021 9:31 am    Post subject:

If I recall correctly, it was reported that Allen Iverson blew all of his money, but that his agent had arranged for a shoe company to put a bunch of his endorsement money into a trust fund that he couldn't touch until he turns 55. There is some other income stream that keeps him afloat until then. That's one helluva good agent.

These guys are stupid, but I can't honestly say that I would have been less stupid if I had been given millions of dollars at a young age. I get the sense that an increasing portion of NBA players are making long term plans, if for no other reason than that the money has gotten so huge that they can't find ways to piss it all down the drain. But there will always be train wrecks.
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PostPosted: Fri Oct 08, 2021 1:27 pm    Post subject:

Aeneas Hunter wrote:
If I recall correctly, it was reported that Allen Iverson blew all of his money, but that his agent had arranged for a shoe company to put a bunch of his endorsement money into a trust fund that he couldn't touch until he turns 55. There is some other income stream that keeps him afloat until then. That's one helluva good agent.

These guys are stupid, but I can't honestly say that I would have been less stupid if I had been given millions of dollars at a young age. I get the sense that an increasing portion of NBA players are making long term plans, if for no other reason than that the money has gotten so huge that they can't find ways to piss it all down the drain. But there will always be train wrecks.


That was an agent that clearly cared about his client and saw the train coming early on. My understanding is that it's nice sum of money, like $30+ million. So if he doesn't drink himself into an early grave, AI will be very comfortable in his latter years.
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PostPosted: Thu Oct 14, 2021 2:29 pm    Post subject:

Aeneas Hunter wrote:
If I recall correctly, it was reported that Allen Iverson blew all of his money, but that his agent had arranged for a shoe company to put a bunch of his endorsement money into a trust fund that he couldn't touch until he turns 55. There is some other income stream that keeps him afloat until then. That's one helluva good agent.

These guys are stupid, but I can't honestly say that I would have been less stupid if I had been given millions of dollars at a young age. I get the sense that an increasing portion of NBA players are making long term plans, if for no other reason than that the money has gotten so huge that they can't find ways to piss it all down the drain. But there will always be train wrecks.



The most recent crop of young players seem to have an awareness that's light years ahead of these knuckleheads.
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