*Never play with a man’s money. Especially when it’s millions of dollars lost.
The JasmineBrand.com reports that North Carolina-based bank BB&T  filed a countersuit against retired NFL star Ray Lewis and 15 other players. According to the bank, the ex-NFLer and others are the ones to blame for losing a combined total of $52 million of their own money from dealing with a shady financial company.
BB&T’s suit is in response to a $52 million federal lawsuit Lewis and co. filed against the bank in 2013. Lewis and 15 current and former NFL players – which include Santonio Holmes, Brandon Meriweather and Frank Gore – allege that BB&T allowed their former financial adviser Jeff Rubin and other employees at Pro Sports Financial to open accounts in their names, in addition to putting millions of dollars of their money into investments they never knew about.
The NFL stars’ suit goes on to claim that Rubin was banned from ever working in the finance industry in 2012, after it was allegedly discovered that he was advising his clients to invest in illegal projects.
Rubin used players’ names to open accounts , the lawsuit alleged, adding that BB&T was well aware of what he was doing. The suit then claims that BB&T authorized suspicious withdraws from the players’ accounts and were providing accounting to Pro Sports instead of the player’s themselves. As a result, this allowed Rubin to be power of attorney of the players’ accounts with them giving the bank that authorization.
Overall, the players mentioned that Lewis lost $3.7 million, Holmes lost $1.1 million and Meriweather lost $3.5 million. The rest of the players involved in the lawsuit are suing for the millions they lost.
In it’s countersuit, BB&T stated that the players had full authority to request bank statements regarding their accounts. Court documents from the bank’s suit show that BB&T blames the NFL players for waiting too long to take action against any alleged fraud. According to the law, a person must notify the bank within 180 days. BB&T say the players did not do this and add that Lewis and the group had one year to inform them if any wire transfers were made with their funds illegally or without their consent.
BT&T further claims that all the players signed away the power to Pro Sports to make transactions with their money. Overall, the bank blames the NFL players’ negligence for the loss of the millions.
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