San Diego Chargers star Dwight Freeney is heading to court and he’s taking his ex-financial advisor and her brother with him. Freeney is accusing the duo ofĀ scheming him into unnecessarily taking out a $55 million life insurance policy in an attempt to receive a huge $450k commission. Freeney says he paid $500k a year for 15 years.Ā
ViaĀ The Jasmine Brand
The 34-year-old running back has filed a federal lawsuit against his formerĀ financial advisorĀ Eva WeinbergĀ and her brotherĀ Richard Weinberg. He claims that the duo schemed together to convince him to take out a $55 millionĀ life insuranceĀ policy all in an attempt to score huge commissions on the deals. Eva has already been sentenced to 3 years in prison for her role in stealing millions from Freeney with another man, Ā both working as his advisors at the time.
Freeney explains that at the height of hisĀ careerĀ he made the decision to entrust his net worth with Weinberg, despite him not knowing that she didnāt have the proper licenses to perform the services she said she could. He says she used herĀ positionĀ to defraud him through various schemes.
Freeney says her and her brother convinced him to take out a expensive wholeĀ life insuranceĀ policy with her brother acting asĀ the insuranceĀ agent to get the commission. He says they advised him to take out a $55 milionĀ life insuranceĀ policy which he paid $500k per year over 15 years. He says that they were well aware this was anĀ āentirely unsuitable and inappropriate investments for Mr. Freeney, who was then age 29, single and in a sport where the average player retires by age 32;āĀ ā¦ yet they received $450K in commission.
He says the policies lapsed and are worth nothing to him now.Ā Freeney accuses them of knowing he didnāt need the $55 mill policy and they choose because the commission on the policies they offered him had 80-90% commission on the first year of the policy.Ā He is suing for all the money he paid intoĀ the insuranceĀ policies and unspecified damages.
I hear way too many stories about shifty financial advisors. From Vince Young, to now. It seems like you have to watch EVERYONE around you these days — even the hired help.