Published: Wed, May 17, 2017
Business | By Max Garcia

Cowboys RB McFadden files second lawsuit

Cowboys RB McFadden files second lawsuit

Dallas Cowboys RB Darren McFadden has made a decision to sue his former financial advisor, Michael Vick, a second time.

In June 2016, McFadden sued his former financial manager, Michael Vick (not to be confused with the former National Football League quarterback) for $15 million.

The lawsuit alleges that Vick - a family friend - mismanaged McFadden's finances after he entered the NFL.

The Arkansas Democrat-Gazette reports McFadden filed a lawsuit Friday in Little Rock against Ameriprise Financial Services Inc., the company Vick worked for when he managed McFadden's finances. Again, though, the allegations have been staunchly denied by Vick.

McFadden ultimately signed a six-year, $60.1 million contracts with the Raiders in June 2008. The former fourth overall pick didn't become aware of his missing funds until he attempted to purchase a home in Dallas after signing with the Cowboys in 2015. The lawsuit claims McFadden's financial advisor lost or stole at least $15 million from the player over an eight-year period, according to the Star Tribune in Minneapolis. It also claims that Ameriprise should have notified McFadden that his broker was investigated for misconduct in regards to his account in 2010. McFadden says he was unaware of the 10-month investigation into Vick's suspicious activity in McFadden's accounts, which resulted in his suspension from Ameriprise. McFadden and his attorneys allege that Ameriprise should have informed all of Vick's clients of the unauthorized activity.

It appears that McFadden is doubling down, not only saying that Vick scammed him with the way he used the money, but saying the company then tried to hide what he was doing so that McFadden was delayed in discovering the issues.

He is represented in both cases by Grant Fortson with Lax, Vaughan, Fortson, Rowe & Threet, of Little Rock.

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