Pro Athletes Demand $8.5M Ponzi Dispute Award Be Paid Up
By Alex Wolf (January 22, 2015, 7:53 PM EST) -- Five current and former professional athletes including Houston Rockets guard Jason Terry and Philadelphia Eagles tight end Brent Celek sought on Wednesday to enforce a $8.53 million arbitration award in Pennsylvania federal court against their former financial adviser, who allegedly lost millions in a Ponzi scheme.
The motion, filed in Pennsylvania's Eastern District, requests that the judge order Martin Kelly Capital Management LLC to pay the athletes to compensate for investments they made with adviser William Crafton, whose advisory company was purchased by SunTrust Bank Inc. for $2.7 million in 2010. The arbitration award, which was entered last September, requires MKCM...
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