Saturday, February 6, 2016

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

0 comments
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.

More coverage
VOTE: Should the Eagles draft a top QB?
Download FREE Philly Sports Now app for iPhone!
FORUMS: Will the Eagles make the playoffs?
Latest NFL odds
SHOP: Eagles Training Camp sportswear

"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.

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog
Eagletarian is your home for comprehensive coverage of the Philadelphia Eagles.

Les Bowen Staff Writer
Paul Domowitch Daily News Columnist
Latest Videos:
Also on Philly.com:
letter icon Newsletter