Out-of-work and financially ruined NFL receiver Terrell Owens has sued former agent Drew Rosenhaus for breach of fiduciary duty, fraud and negligence, according to Yahoo Sports.
Owens is seeking to recover up to $6.5 million from the man who infamously coined the phrase “Next Question” in his contentious dealings with reporters over the years. Jason Rosenhaus, Drew’s bother, is also named in the suit.
Yahoo! reports Owens contends Rosenhaus introduced him to now-banned financial advisor Jeff Rubin and further recommended that he hire him to manage his finances. Shortly thereafter, Owens asserts that Rubin began placing his money in a series of faulty investments, including an illegal and now-bankrupt casino project in Alabama.
In completely neglecting their responsibility to him, Owens alleges the brothers also failed to warn him of Rubin’s numerous red flags, which ultimately caused him to lose nearly $5 million, as well as roughly $1.5 million his investments could have generated if properly invested.
“Terrell trusted Drew Rosenhaus when he recommended that Terrell hire Rubin as his financial adviser," said Owens' attorneys, Curtis Carlson and Chase Carlson of Miami-based Carlson & Lewittes, P.A. "It is completely ridiculous that Rosenhaus would refer a five-time Pro Bowler to a financial advisor who has been accused of stealing from his clients in the past, whose college degree was in Exercise Science, and who was inexperienced. Rosenhaus should have steered Terrell away from Rubin, not toward him."
Yahoo! Sports previously detailed how Rubin leveraged his relationship with Rosenhaus to secure player-investments in the failed Alabama casino project that resulted in the loss of more than $40 million by 32 NFL players. Eighteen of those players were one-time Rosenhaus clients. Among them were Jevon Kearse, Fred Taylor, Frank Gore, Plaxico Burress, Clinton Portis, Santana Moss and Owens.
Rosenhaus declined comment.
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