After spending over $ 100 million, Adrian Peterson tries to get part of the investment firm back, but they say it’s his fault he’s such a terrible investor (Vids-Payday Loans-Court Docs )
Peterson is in debt of around $ 5 million and that’s one of the reasons he can’t stop playing football. The fact that he made over $ 100 million in his career would make you think there is no way that could happen, but it happens more often than you might think, especially for football players.
Athletic has history.
The likely future Hall of Famer is currently involved in an arbitration with Morgan Stanley Wealth Management over a soured investment, sources said. Morgan Stanley confirmed the arbitration.
“We are defending ourselves against these claims, which we believe to be unfounded,” a Morgan Stanley Wealth Management spokesperson wrote in an email. No further details were provided.
Peterson’s attorney, Chase Carlson, declined to comment. Carlson, who represents athletes who claim to have been defrauded, said in a July statement after The Athletic first reported that a third lender sued Peterson: “The truth behind Adrian Peterson’s current financial situation is more than what is reported right now. Due to ongoing legal issues, I am unable to go into details. But I will say this is yet another situation where an athlete trusts the wrong people and takes advantage of those they trust. Adrian and his family are eager to share more details if appropriate. “
As for Peterson, arbitration is the latest in a series of financial disputes. In 2018, DeAngelo Vehicle Service sued him for non-payment before the parties agreed to stay the case in August 2019. The loan from DVS was not the first for Peterson, nor the first on which he took. lack. He used the $ 5.2 million from DVS to repay a loan of nearly $ 3.2 million to Thrivest Specialty Funding and an additional $ 1.34 million to Crown Bank, according to court documents.
In 2018, a Minnesota court ordered Peterson to pay the remaining $ 600,000 outstanding to Crown Bank on a $ 2.4 million loan. And a Maryland judge said last year that Peterson had to pay another creditor, Democracy Capital Corp., $ 2.4 million.
Peterson also admits massive overspending on his part, including a massive birthday party that included camels.
In the immortal words of Marshawn Lynch, always make sure you take care of your chickens.
Flip the page to see how Peterson lost all his money and his camel photos.