Black sports stars who lost their fortunes to fraud schemes

Kareem Abdul-Jabbar

Abdul-Jabbar is another NBA star that lost reasonable sums to investment fraud. The 7-foot-2-inch legend played for Milwaukee Bucks and L.A. Lakers, winning about six titles. A Sports Illustrated report stated that Abdul-Jabbar lost his multi-million dollar Bel Air mansion to a fire incident and lost more fortunes in a series of bad investments. He later filed a $59 million lawsuit against his business manager, Tom Collins.

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