In The News: Athletes Report $600 Million in Fraud-Related Losses

Here’s a look at a handful of stories that demonstrate the issue at hand and punctuate the need for Walker Sports Audit:

• “Professional athletes have reported nearly $600 million in fraud-related losses over the last 15 years.” [EY]

• “I feel violated and taken advantage of.” – Chandler Parsons [New York Times]

• “Cohen and Morgan Stanley improperly diverted $5 million and $2 million of their investments and that most of that money has similarly disappeared.” [New York Times]

• “Too often, ballers making millions fall in with financial fraudsters pushing idiotic or outright illegal investments.” [Nicki Swift]

• “Financial advisors, lawyers, etc…they assume we don’t read the paperwork [often true for many] and charge us more than the average person.” – Chris Pronger [NHL Trade Talk]

• “I’m saddened that my name will join the list of athletes to fall victim to this sort of misconduct.” – Tim Duncan [Investment News]