Rand Getlin and Jason Cole

  • Document: Terrell Owens' former financial adviser made unsuitable investment recommendations

    Rand Getlin and Jason Cole at Yahoo! Sports1 yr ago

    The Financial Industry Regulatory Authority announced Thursday that former financial adviser Jeff Rubin accepted its findings that he made unsuitable investment recommendations to 32 players. Those investments resulted in the loss of approximately $40 million in an illegal Alabama Casino operation.

    Rubin, who founded Pro Sports Financial, used his relationship with prominent agent Drew Rosenhaus to help sign at least 18 one-time Rosenhaus clients to invest in the failed casino project. Among those clients were past and present NFL players Jevon Kearse, Fred Taylor, Frank Gore, Plaxico Burress, and Terrell Owens. The NFL Players Association had been investigating the relationship between Rubin and Rosenhaus at one point, but it is unclear if that investigation is ongoing.

    Read More

  • Document: Terrell Owens suing financial adviser

    Rand Getlin and Jason Cole at Yahoo! Sports1 yr ago

    Out-of-work NFL wide receiver Terrell Owens is suing a financial adviser, a South Florida bank and others for mismanaging his finances, according to documents obtained by Yahoo! Sports.

    Owens alleges that the close relationship between defendants Jeff Rubin, his financial firm (Pro Sports Financial) and Florida-based Bank Atlantic led to PSF employees engaging in various instances of financial mismanagement of Owens’ account without his knowledge.

    Among Owens' claims in the filing:

    • That PSF opened an account at Florida-based Bank Atlantic without his knowledge or authorization.

    • That Owens' signature on that account was forged.

    • That PSF employee Tequilla Harris and others made "numerous unusual and extraordinary withdrawals" from that account without Owens' authorization.

    • That PSF made "unauthorized loans and or funds transfers" to other PSF clients who held accounts at Bank Atlantic, including former NFL player Jevon Kearse and another Rubin-controlled company, Pankas Holdings.

    Read More

  • Prominent NFL agent Drew Rosenhaus scrutinized for relationship with former financial adviser

    Rand Getlin and Jason Cole at Yahoo! Sports1 yr ago

    MIAMI – The NFL Players Association is investigating the relationship between agent Drew Rosenhaus and a former financial adviser who persuaded a number of players to invest in a failed Alabama bingo casino, a source with knowledge of the inquiry told Yahoo! Sports.

    According to multiple sources who talked to Y! Sports on the record and for background, Rosenhaus and Jeff Rubin had an unusually close business relationship that spanned upwards of seven years. That relationship might have resulted in Rosenhaus breaching the fiduciary duties all agents who are certified by the NFLPA owe to their clients. The relationship has been scrutinized in part because of a series of issues surrounding Rubin, who is at the center of a bankruptcy filing for the failed casino that cost the players as much as $43.6 million.

    Starting in 2003, Rubin was questioned about financial transactions that could have raised red flags for a financial adviser, a five-month Y! Sports investigation has found. That included allegedly mismanaging a player's game checks in 2003 and settling an issue related to allegedly falsified insurance documents in 2004.

    Read More

  • Arbitration filing: Rosenhaus Sports vice president seeking $1M from firm

    Rand Getlin and Jason Cole at Yahoo! Sports1 yr ago

    A suspended employee of Rosenhaus Sports is alleging that the prominent agency owes him more than $1 million in commissions and compensatory damages, according to an arbitration filing with the NFL Players Association. Yahoo! Sports previously obtained a memo regarding the arbitration, but full details of the filing were unknown.

    Rosenhaus Sports vice president Danny Martoe accuses brothers Drew and Jason Rosenhaus of breach of contract and fraud. Martoe, who has worked with the agency since 2005 but is currently on administrative leave with pay, says he "contributed to over ninety-one (91) players becoming Rosenhaus Sports clients," according to the filing. Among those clients are Dallas Cowboys wide receiver Dez Bryant, who recently fired Drew Rosenhaus, San Francisco 49ers safety Dashon Goldson, Carolina Panthers tight end Greg Olsen, Pittsburgh Steelers tight end Lawrence Timmons and New England Patriots tight end Rob Gronkowski.

    Read More

  • Agent Drew Rosenhaus accused of breach of contract, fraud by employee in arbitration filing

    Rand Getlin and Jason Cole at Yahoo! Sports2 yrs ago

    Prominent NFL agents Drew and Jason Rosenhaus have been accused of breach of contract and fraud in an arbitration filing with the National Football Players Association by Rosenhaus Sports Representation vice president Danny Martoe, according to a legal memorandum obtained by Yahoo! Sports.

    If the accusations against the Rosenhauses are true, the brothers could be subject to NFLPA disciplinary action, including suspensions.

    Read More