Pro Basketball
Some young professional basketball players apparently could use help in managing their finances, a federal judge said in awarding a $137,300 judgment to Denver Nugget player Reggie Williams.
The NBA or the players’ association should consider lending a hand, U.S. District Judge Stanley Sporkin said.
The former Georgetown and Clipper player gave $50,000 to financial adviser Waymon Hunt in 1988 to invest in “atmospheric reverse refrigeration heating units,” which Sporkin described as akin to trying to buy the Brooklyn Bridge or Florida swampland.
Hunt did not invest the money or return it to Williams, the judge said.
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