This just proves that we can all be swindled, regardless of race, education or anything else.
If I told you the story about the NBA player that lost $25 million to dishonest financial adviser, we’d all assume that it was J.R. Smith, or one of the young, baller style players in the league.
The idea that the great Tim Duncan could be swindled is mind-boggling — yet it appears Timmy got took to the cleaners, for a huge chunk of money.
Duncan says he lost about $25 million in investments to a dishonest adviser, but it’s not a factor in deciding if he will return for a 19th NBA season.
The promise of a multimillion-dollar contract won’t be a factor in whether Tim Duncan returns for his 19th National Basketball Association season, even though the San Antonio Spurs All-Star lost more than $20 million to what he says is a dishonest financial adviser.
“Luckily I had a long career and made good money,” the 39-year-old Duncan, who has been paid about $220 million over his career, including about $10 million this past season, said in a telephone interview. “This is a big chunk, but it’s not going to change my life in any way. It’s not going to make any decisions for me.”
Duncan is a 15-time All-Star and two-time NBA MVP who has made more than $220 million in his career. He made $10 million last season and will be an unrestricted free agent next month.
Duncan said he learned of the misappropriation of funds during his 2013 divorce.