BY Ben Ebuka, 10:00am March 08, 2023,

Black sports stars who lost their fortunes to fraud schemes

Usain Bolt -- Photo Credit: Fernando Frazão/Agência Brasil

Lack of adequate investment and financial knowledge exposes some sports figures to investment sharks that pose as investment managers, but with the ulterior motive to defraud their clients.

Sports stars make millions out of their career, and most often, they have interests in other sources where they can invest money to expand their wealth; this makes them very attractive to investment managers. Unfortunately, many sports stars have lost money to some of the slick-mouthed investment managers who later turn out to be fraudsters.

From boxing stars to football, basketball, and other sports icons, the following are victims of fraud.

Last Edited by:Mildred Europa Taylor Updated: March 8, 2023


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