Vince Young has settled a lawsuit against his one-time financial adviser and former agent charging that they both conspired to fraudulently obtain a $1.8 million loan in his name.
According to the Houston Chronicle, testimony was slated to begin in a Harris County state district court on Tuesday against Ronnie Peoples and Peoples Financial Services of North Carolina. The newspaper adds the two sides reached an agreement on Friday that also included Major Adams II, Young's former agent.
"Vince is ecstatic to have this out of the way so he can pursue his football career," said Trey Dolezal, Young's Austin-based attorney. Young, a former University of Texas star, accused both Peoples and Adams of conspiring with New York-based Pro Player funding to take out the loan in his name during the 2011 NFL lockout.
According to The Chronicle, the settlement does not directly impact another case before the same court involving Young and Pro Player. In the second case, Pro Player is attempting to enforce a New York state court judgment against Young totaling $1.8 million plus interest for nonpayment of the 2011 loan.
Young has appealed that judgment and, according to Dolezal, plans to argue the judgment should not be enforced by a Texas court because the New York state case is not final.
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