Sunday, August 30, 2015

In suit, Vince Young claims he's missing millions

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.

In suit, Vince Young claims he's missing millions

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Former Eagles backup quarterback Vince Young claims millions of his money is missing and he is suing his former agent. (Yong Kim/Staff File Photo)
Former Eagles backup quarterback Vince Young claims millions of his money is missing and he is suing his former agent. (Yong Kim/Staff File Photo)

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.

Young's lawyer, Trey Dolezal, told the Houston Chronicle that the suit was necessary to determine "what happened to a large sum of money that there's no accounting for."

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.

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"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.

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