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Has Vince Young Gone Broke? Suing Agent For Stealing $5.5 Million

Yet a another Baller is going broke thanks to the people around him. Vince Young who had just gotten married and signed a contract with the Buffalo Bills all this year is now broke and trying to find out where his money has gone. It looks like he can thank his agent for the missing funds.

Via Yahoo Sports

Young earned over $30 million of his rookie contract and banked another $4 million last season with the Philadelphia Eagles. Young signed a one-year, $2 million contract with the Buffalo Bills in May, but that deal included just $350,000 in guaranteed money and the former University of Texas standout was released in favor of Tyler Thigpen and Tarvaris Jackson in August.

Young's financial mess has been well-documented. In June, Young filed a lawsuit against his former agent, Major Adams II, and financial adviser, Ronnie T. Peoples of Peoples Financial Service. In the suit, Young claims that at least $5.5 million of his money was misappropriated by Peoples Financial Service. The suit came on the heels of Young defaulting on a $1.9 million loan obtained in Young's name with Pro Player Funding LLC, which has received a $1.69 million judgment against the former Heisman Trophy finalist.

According to Trey Dolezal, Young's attorney, the loan with Pro Player Funding was obtained by Adams and Peoples, who Young has accused of falsifying documents, forging his signature and impersonating him for their own financial gain.

"They conspired to take Vince's money," Dolezal told the Associated Press. "It's that simple."

Vince Young's attorney says Vince is in desperate need of a job. Vince reached out to his fans via his Twitter after receiving a bit of negative feedback.

From my run in's with Vince he is a pretty nice guy. This will definitely be a test for his wife of 5 months though. If she can make it through this, she may just be a keeper.

0 members like this

Comment by CrownRoyal on September 20, 2012 at 10:24am: Wow! that's horrible...but y did he wait until now to be on top of his finances? It's like they get so excited about spending the money thinking it's gonna last forever that they don't care about the responsibiltes of having so much money until it's too late.

Comment by Mac Maine on September 20, 2012 at 12:13pm: One of these days my brothers gone get educated and learn how to count there own money...

I learned something from Oprah a long time ago, never give power of attorney to a lawyer and make sure you sign every check personally...

Comment by DdoubleD on September 20, 2012 at 1:32pm: This is really sad to me. I hate to athletes going through this time and time again. When are the gonna learn. I understand not knowing how to manage your money especially when you may have grown up with little to know money, but it is important to have a checks and balance system, a retirement savings (which should never be touched until retirement), and invest properly.

@Mac Maine you are completely right.

Comment by SoLuscious on September 20, 2012 at 4:42pm: @Mac maine...totally agree! however, now in 2012 we have more information that ever, so theres really no reason not to know whats going on with the finances. and if that much money was stolen...that happens over a lengthy period of time.

Comment by SoLuscious on September 20, 2012 at 4:43pm: @DdoubleD girl im working on getting my investment property as we speak...EARLY RETIREMENT!!!! cant work for the man forever!

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