Seven current and former NFL players, including former Denver Broncos players Steve Atwater and Ray Crockett, have sued the league and its union to recover $20 million they lost in an alleged fraud scheme. The plaintiffs claim the union endorsed an investment firm's services, even though there were liens against its manager, Kirk Wright. The lawsuit was filed Friday in federal court. Wright was arrested in May on federal fraud charges and also faces a suit filed by the Securities and Exchange Commission.
June 29, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Seven current and former NFL players have sued the league and its union to recover $20 million they lost in an alleged fraud scheme, claiming the union endorsed the services of an investment firm even though its manager had liens against him.
In a lawsuit, filed Friday in U.S. District Court, the players said the league and the NFL Players Association are liable for the losses because of investments with hedge fund manager Kirk Wright.
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