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Tue, 01 May 2007 10:45:44 -0700
Harry R. Weber, of The Associated Press, reports the National Football League Players Association is countersuing six former and current players including Steve Atwater, Ray Crockett, Al Smith, Blaine Bishop, Carlos Emmons and Clyde Simmons, who are seeking to hold the union and NFL liable for millions of dollars they lost in an alleged fraud scheme. The players filed a lawsuit last June against the league and the union for over $20 million they lost by investing their money with a hedge fund manager that they say was endorsed by the union. Kirk Wright, the fund manager of International Management Associates, was arrested in Florida last May on federal fraud charges and is awaiting trial. According to authorities, Wright and his company collected as much as $185 million from at least 500 investors since 1997 and used false statements and documents in misleading investors to believe the value of those investments was increasing. The majority of that money is now missing. The countersuit claims the players violated a provision in union regulations that says the union does not endorse any of its registered financial advisers and is not responsible for the skill, honesty or competence of any registered adviser.
Fri, 30 Mar 2007 22:00:32 -0700
The Associated Press reports six current and former players are suing the NFL and its union are seeking to recoup $20 million they lost in an alleged fraud scheme. A judge denied a motion to dismiss, meaning the case in federal court in Atlanta can proceed. No trial date has been set. The NFL and the NFLPA contended the lawsuit filed last June should be thrown out partly because under the league's CBA, players are solely responsible for their own finances. The players listed as plaintiffs are former Denver Broncos DB Steve Atwater, former NFL CB Ray Crockett, former Houston Oilers LB Al Smith, former NFL DB Blaine Bishop, free agent LB Carlos Emmons (Giants) and former NFL DL Clyde Simmons.
Sun, 02 Jul 2006 17:24:08 -0700
The Associated Press reports a lawyer for seven current and former NFL players said he expects to settle his suit against the NFL and the players' union for recommending unfit financial advisers who caused $20 million in losses. "I would be shocked if the NFL wants this case to play out in front of a jury," attorney Jim Evangelista said yesterday during a news conference in Atlanta. "You don't want to put guys like this in front of a jury, because they are going to cream the (league)." NFL spokesman Greg Aiello said the claims are unfounded and declined to comment further. As previously noted, the plaintiffs are former players S Steve Atwater, S Blaine Bishop, DE Marco Coleman, CB Ray Crockett, DE Clyde Simmons and LB Al Smith and current New York Giants LB Carlos Emmons.
Mon, 26 Jun 2006 17:58:14 -0700
Margaret Cronin Fisk, of Bloomberg News, reports seven present and former professional football players have sued the NFL and the NFLPA, claiming the organizations recommended unfit financial advisers that caused them to lose $20 million. Both organizations approved the services of Kirk Wright and Nelson Keith Bond, heads of the bankrupt hedge fun International Management Associates LLC, without doing background checks, the players said June 23 in a federal court suit in Atlanta. NFL spokesman Greg Aiello said the claims are unfounded and added, "We will review the matter with our attorneys and look forward to responding as directed by the court." The plaintiffs are former NFL S Steve Atwater, S Blaine Bishop, DL Marco Coleman, CB Ray Crockett, DL Clyde Simmons and LB Al Smith. New York Giants LB Carlos Emmons is the only active player involved in the lawsuit.
Mon, 20 Feb 2006 18:26:50 -0800
The Rocky Mountain News reports Denver Broncos WR Rod Smith, former RB Terrell Davis, former S Steve Atwater, former CB Ray Crockett, and other former and current players have filed a law suit against an Atlanta based hedge fund company. The group is accusing the managers of International Management Associates LLC of theft, forgery, and fraud. The investors claim they put close to $15 million into funds run by the company, its affiliates and principal Kirk Wright.
Wed, 04 Jun 2003 06:38:09 -0700
Updating previous reports, the Kansas City Star reports the Kansas City Chiefs saved $3 million against the salary cap this year by releasing CB Ray Crockett, which was his salary for 2003. Crockett will still count $1.25 million on the Chiefs’ cap for 2004.
Tue, 03 Jun 2003 07:49:20 -0700
Updating previous reports, the Kansas City Chiefs have announced they have released CB Ray Crockett.
Mon, 02 Jun 2003 08:13:06 -0700
Updating previous reports, the Kansas City Star reports that by releasing CB Ray Crockett in June, the Kansas City Chiefs will save $1.75 million on this year's cap.
Fri, 23 May 2003 13:32:29 -0700
ESPN.com's John Clayton reports the Kansas City Chiefs are likely to release veteran CB Ray Crockett after June 1st.
Thu, 06 Feb 2003 05:14:24 -0800
The Kansas City Star reports the Kansas City Chiefs are likely to release CB Ray Crockett. Head coach Dick Vermeil said Wednesday the team will be looking for a CB either in free agency or the draft, but not for a player to start ahead of William Bartee or Eric Warfield.
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