Retired Major League Baseball pitcher Jaret Wright is suing his financial advisers at SunTrust Bank, CSI Management, and accounting firm Taylor and Faust.
Yahoo! Sports obtained legal filings for the $7.5 million lawsuit by Jaret Wright claiming fraud, wrongful conduct, negligence, and misrepresentation.
Jaret Wright claims in the lawsuit that Todd LaRocca, managing partner at SunTrust Bank, put Wright’s money in “Ponzi schemes or other fraudulent investments run … by individuals whom LaRocca had a personal relationship, a vested interest and kick-back agreements.”
Andrew Smith, Wright’s attorney, said:
“Mr. Wright is next in the line of professional athletes who were bilked by their financial adviser. Similar to other pending lawsuits we filed for players, Todd LaRocca and SunTrust Bank squandered away more than $7.5 million of the money Jaret earned during his MLB career. “
In response to Jaret Wright’s lawsuit, SunTrust released this statement, “We are confident the claims in the lawsuit filed against us on behalf of Mr. Wright are without merit, and we look forward to vigorously defending ourselves through the appropriate legal channels.”
Over the course of his 11 year Major League career, Wright played for five different teams; the Indians, Yankees, Braves, Padres, and Orioles. He finished his career 68-60 record, 5.09 era, and 694 strikeouts.
Now Jaret Wright wants one more win. He joins a number of athletes who hav sued SunTrust Bank including; Eagles tight end Brent Celek, former quarterback A.J. Feely, and former wide receiver Kevin Curtis.
Do you think Jaret Wright should win his lawsuit?
[image via Wikimedia Commons]