Miami Heat Players Hit By Multi-Million-Dollar Real Estate Scam

Miami Heat Players Hit By Multi-Million-Dollar Real Estate ScamAccording to Kathy Lynn Gray of the Columbus Dispatch, Mike Miller and other Miami Heat players were among those victimized in a multi-million-dollar real-estate scam. Regina Garcia Cano of the Associated Press reported that the other players were James Jones and Rashard Lewis.

‘Questionable documents’

Haider Zafar allegedly conned Miller, Jones and Lewis—along with numerous other Florida residents—out of $8 million by using “questionable documents” to solicit funds for Pakistani real-estate ventures. These revelations were made public after international investment attorney Andrew Fine served as a witness in federal court last Thursday.


‘Off-court distractions’

Patwinder Sidhu, one of the main victims in this case, was allegedly taken for more than $10 million during a two-year period. There are 135 charges being pursued against Zafar for his actions, as he allegedly attempted to convince investors that his uncle was the defense minister in Pakistan. If investors purchased land, Zafar said they would be able to sell it back to the government at a higher price.

Hopefully, this issue will be cleared up in time for the start of the 2013-14 campaign, as the Heat are going for a rare three-peat and do not need off-court distractions getting in the way.

Are you a Miami Heat fan? Have you also been a victim of a similar scam? Feel free to share your thoughts and opinions with us!

Source: Alex Kay | Bleacher Report

Image: Black Sports Online

New Orleans Saints’ Drew Brees Sues Former Teammate For False Tax Credits

New Orleans Saints' Drew Brees Sues Former Teammate For False Tax CreditsDrew Brees, who just recently sued a former teammate, found out the hard way that you have to be careful trusting others with your money.

‘Mishandled’

The New Orleans Saints superstar has taken legal action against Kevin Houser, as the former long snapper and teammate of Brees allegedly advised the quarterback to invest $160,000 in false tax credits, according to Michael Kunzelman of the Associated Press:

The suit filed on Brees’ behalf in federal court claims former Saints long snapper Kevin Houser, a licensed securities broker, mishandled the star quarterback’s money and failed to disclose his own financial interests in the investments he was promoting.


‘Joint lawsuit’

It seems Brees was reluctant to take his former colleague to court, because he was one of the last to add his name to a joint lawsuit that includes teammates and coaches who reportedly invested about “$2 million to buy nonexistent tax credits from a defunct movie studio.”

Brees, according to his lawyer Daniel Becnel Jr., wanted to settle this away from the courtroom, but decided in the end to sue the 35-year-old who was an active member of the Saints from 2000-07.

Have you ever been financially duped by a friend? Was Drew Brees right in suing Kevin Houser?

Source: Gabe Zaldivar, Bleacher Report

Image: Bloguin