NFL Players: Personal Foul, Investment Fraud

In my summation, this is the single largest set of investment losses in the history of the NFL at the hands of one investment adviser.
— Rand Getlin, Yahoo Sports

This past Sunday, 60 Minutes took an interesting look at how NFL players, "Supermen" to many of us, can be victims too.

The letters B-I-N-G-O cost NFL players $43 million.

The one constant in this whole story is INCENTIVE.

  • Players' Incentive: To be "crazy rich"
  • Financial Advisor's incentive: Get out of being underwater, by not working in the best interests of his NFL clients, among others.

When a client's interest and their advisors are not aligned, is it any surprise this happens?