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Mon, 26 May 2008 06:25:19 -0700
Mike Klis, of the Denver Post, reports Kirk Wright, who founded an illegitimate hedge fun and was convicted Wednesday, May 21, by a federal jury of bilking $150 million from thousands of clients, hung himself Saturday, May 24, in the Union City, Ga., jail where he was awaiting sentencing of up to 710 years in prison. Former Denver Broncos FS Steve Atwater, RB Terrell Davis and WR Rod Smith were some of Wright's clients. Atwater invested $2.8 million of his own money in Wright's hedge fun, called International Management Associates. Atwater helped raise an additional $15 million by signing up Davis and Smith.
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.
Fri, 07 Oct 2005 18:31:07 -0700
Frank Schwab, of the Gazette, reports former Denver Broncos S Steve Atwater will be inducted into the Broncos ring of fame during Sunday's game, Oct. 9, against the Washington Redskins. Atwater, who played safety for the Broncos 1989-98, was one of the most popular players in team history for his hard-hitting style.
Mon, 01 Aug 2005 12:48:09 -0700
Andrew Mason, of DenverBroncos.com, reports former Denver Broncos S Steve Atwater has been elected into the Broncos' Ring of Fame.
Thu, 27 May 1999 07:00:00 -0700
The AP reports the New York Jets have been quite happy with S Steve Atwater thus far. The ex-Bronco joined the Jets earlier this year after being released by the Denver Broncos. "My driving force right now is to play at a level that I feel comfortable playing at," Atwater stated. "I don't think I've reached that level the past two or three years. Sure, I've been to the Pro Bowl two of the last three years, but that's not what I base my performance on. I know that I can get to that point."
Tue, 02 Mar 1999 12:10:00 -0800
Sportsfan Radio in New York reports the contract Steve Atwater agreed to with the Jets is for three-years, $8.25 million and includes a $1.8 million signing bonus.
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