Have you ever been hesitant to allow someone else to manage your money? For instance, a financial advisor?
It's safe to assume Indianapolis Colts defensive end Dwight Freeney will be from now on after being the victim of fraud by his money advisor. His trusted partner allegedly swindled about $2.3 million from Freeney over time.
From the Indy Star:
A Florida man has pleaded guilty to a fraud charge in a Los Angeles courtroom in connection with swindling about $2.3 million from Indianapolis Colts defensive end Dwight Freeney.
Michael Stern of Miami entered his plea Monday to a single count. He faces up to 10 years in prison when he’s scheduled to be sentenced May 6.
Prosecutors said Stern and his lover, Eva Weinberg, a financial adviser to Freeney, bilked more than $2 million from the football player via wire transfers. The money went into an account belonging to Stern’s company without Freeney’s approval.
A criminal complaint was filed against Weinberg, accusing her of wire fraud. Her case is pending.
Freeney signed a six-year, $72 million contract extension with the Colts in 2007. He made approximately $14 million in base salary in 2012.