Houston Chronicle · Mar 4
Inside the multimillion dollar fraud scheme that targeted two former Rockets
Former Houston Rockets Courtney Lee and Chandler Parsons, along with two-time NBA champion Jrue Holiday, were defrauded out of nearly $5 million by an ex-Morgan Stanley advisor. On Tuesday, that advisor was charged and could serve nearly 20 years in prison.Two former Houston Rockets players got a big win on Tuesday after being defrauded out of nearly $5 million.
A Manhattan federal jury on Tuesday convicted a former Morgan Stanley investment adviser on fraud charges, for allegedly defrauding three NBA player clients out of millions of dollars by overcharging them for life insurance investments and misappropriating funds.