Carlson Law Uncovers Financial Advisor’s Embezzlement Scheme Against Former NFL Player

Miami Beach-based Carlson Law, P.A. recently uncovered a shocking case of financial misconduct, discovering an elaborate $1.57 million embezzlement scheme orchestrated by a financial advisor at a prominent Wall Street firm. The victim, a former NFL player, unknowingly fell prey to his trusted advisor, who used the funds to support a wild and lavish 26-month spending spree.

The Scheme: How It Went Undetected

The embezzlement spanned from January 2022 through March 2024, during which time the financial advisor diverted funds from the player’s checking account to pay down personal American Express credit card balances. This scheme was particularly insidious because the bank statements only reflected payments to American Express, without specifying whose account was being credited. This lack of transparency allowed the advisor’s misconduct to fly under the radar for over two years.

The fraud was uncovered after Carlson Law conducted an audit that found more money was sent to American Express from the victim’s bank than he had personally charged to his own cards. Alarmed by the inconsistencies, Carlson Law and the former NFL player took action to obtain detailed records which confirmed that the embezzlement occurred.

A Lavish Lifestyle at Our Client’s Expense

After obtaining the financial advisor’s American Express statements, it was uncovered that the embezzled funds were used to finance a wild and lavish lifestyle that included:

• Domestic and international vacations
• Luxury boat rentals
• High-end hotels and restaurants
• Designer fashion purchases
• Frequenting upscale bars and nightclubs

Among the most egregious expenses were tens of thousands of dollars spent at strip clubs, including over $23,000 in a two day span, and a single-day splurge of over $19,000 at a Miami restaurant/nightclub.

Justice for the Victim

Carlson Law, P.A., has taken steps to hold the financial advisor and his firm accountable and recover the misappropriated funds. In this case, the financial advisor works for a prominent Wall Street firm, but in many other cases recovery is more challenging.

Protecting Your Financial Future

Carlson Law, P.A. represents victims of investment fraud and has represented dozens of professional athletes who were victims of financial fraud or mismanagement. If you suspect financial misconduct from your trusted professionals, contact Carlson Law, P.A. today.