In suit, Vince Young claims he's missing millions
The Philadelphia Daily News - Eagletarian
In suit, Vince Young claims he's missing millions
Daily News staff
Former Eagles backup quarterback Vince Young claims millions of his money is missing and he is suing his former agent and financial advisor in Harris County court in Houston.
The suit claims fraud, unjust enrichment, conversion, breach of fiduciary duty, usury and breach of contract among other allegations. Young is suing his former agent, Houston attorney Major Adams II, as well as financial adviser Ronnie T. Peoples and his Raleigh, N.C.-based company, Peoples Financial Service. Neither Adams nor People returned messages.
The Chronicle quotes the lawsuit suing Young has been left "in the unenviable position of losing no less than approximately $5.5 million while his assets were under [Peoples Financial Service]'s control." Nearly $13 million more in "counter-withdrawals," "debit memos" and checks are "untraceable" in Young's accounts with the company.
"There has been at least some evidence that there has been some fraud and some forgeries using [Young's] name over the last several years that we believe that Major Adams and Ron Peoples are responsible for," Dolezal said. "We have no idea how much money is missing."
Adams and Peoples were in charge of Young's money when he with the Tennessee Titans and had signed a $54 million deal. Young changed agents to Tom Condon two years ago.
After one season with the Eagles, Young signed with the Buffalo Bills this offseason.
The Eagles should be looking for the millions of dollars he took from them...— djw26- Ha nice one...
— thegamepa - He was worth it for the win over the Giants.— Penfold18
- Did he check the pockets?— 2ndNlong
Comment removed.- I don't know what happened!!! I put all this money from my 2006 signing bonus in the stock market and real estate, and now it isn't there.— dragoon6
- Against the Giants he's better than Tom Brady..— ClarkU
andy reid's stolen more from the team than VY ever did— barry m goldwater- How can you let it get to such a large amount missing. Hell I get a statement 1/4ly form my 401(k) plan that I go over religiously - not that it's worth millions, but still. I'm thinking even if you had no financial knowledge at all if you start seeing MILLIONS missing (let alone almost $18 mill!), that might tip you off!— gdibig
- They aren't simply alleging that they made bad investments but that they committed fraud all the way to forgery. What makes you think they weren't sending him false statements of his accounts? — UncleStosh
- The way Vince threw the ball away here I kind of assume he might handle his finances with the same lack of security. Seems like the pot calling the kettle black if you ask me....— glove69
- this is terrible. Ill never understand how these finance criminals with a decent business feel the need to go out of their way to steal more money. They never seem fulfilled enough with just making a good living. Not right but understandable if the business is failing and they are desperate but they tend to steal even when already in a good position. This is what happens when you go into business with friends, and this clown was a start up taking on a first round pick at the time. ooops Vince, you shouldve known better.
"I'm having a great time," he said. "I haven't second-guessed the decisions I've made and neither has Vince. He feels 100 percent comfortable (in the relationship). No second thoughts."
Apparently, Young has none, either.
"I feel very comfortable with Major," he said. "He's been around our family for so long. He and my uncle Keith work so well together. I don't know what I'd do without them. They take great care of me. They'll protect me. They know what I want for me and my family. We're going to stick together and make this work for the long haul.?"— peteike - surprise surprise— 4in5out7gone
- He is not bright enough to learn plays and we now know he is not bright enough to pick a finacial advisor or look at his monthly or quarterly statements.....think about it...if you had 5 million dollars would you keep and eye on it.....No excuse works for VY or any other athlete or lottery winner.....Stop, claiming stupidity as an excuse is plain foolish.......— nuggett
- Financial Dream Team?— chopperdaddy
