Tuesday, August 25, 2009

News: Carmello Sues Former Business Manager

When athletes finally make it to the professional level, they're immediately surrounded by people they don't know but are forced to trust. And young athletes in their twenties who don't have any money-management skills whatsoever are ripe for being taken advantage of. That's what happened to Carmelo Anthony, but now he's fighting back.
Melo filed a $2 million lawsuit against his former business manager, Larry W. Harmon and his firm, Larry Harmon & Associates P.A. The suit alleges that Harmon breached their contract by transferring $1.75 million of Anthony's money without his knowledge or consent to a company formed by Harmon, most of it in 2008, according to the Associated Press. There was another $265,000 invested in companies that Melo had no knowledge of or given consent to.

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