BB player broke and owes $800k to jeweler

[AprilBaby]

http://www.dailymail.co.uk/news/article-2101598/Allen-Iverson-broke-Former-NBA-star-sued-pay-860K-jewelry-debt.html

Imagine having $800K to spend on diamonds???

 

[Lottie]

Wow, can you imagine lying in bed at night knowing that you are broke and that you had blown your colossal fortune on utter rubbish? I bet he suffers froms buyers remorse

 

[asscherisme]

Wow, can you imagine lying in bed at night knowing that you are broke and that you had blown your colossal fortune on utter rubbish? I bet he suffers froms buyers remorse

Agreed. But I think there is more to it than his spending. The article makes a one line mention of gambling. That would do it as well. Sounds like a combo of compulsive spending, bad to no money management skills, and gambling issues.

Blows my mind how people can go through that much money.

Seems like with some, the more you earn, the more you spend.

 

[VapidLapid]

I believe the tattoo on his diamond and ink encrusted hand sez "Money Bagz".

 

[smitcompton]

Hi,

What a waste. So many athletes do this. Actually though, i worked with a guy who made several million by hard work, by the time he was 25(yrs ago so millions meant more). He told a group fo us he went wild with the money and ended up with nothing. He was back to working for a living. I went to his apartment on Lake Shore Drive(ritzy section) and did see he had valuable paintings still, so all was not lost.

Annette

 

[Amber St. Clare]

I want to know how, in the name of everything holy, someone can squander $154 MILLION DOLLARS??? I have heard that pro sports engaged financia advisers to ensure that players DON'T pi$$ away their money????

 

[partgypsy]

Sports teams used to be terrible about advising players who had sudden riches. They are better about it, but it doesn't mean the players listen to the advisors. I think all the hanger ons (often from their past) exert a different kind of peer pressure.

I know, I just think what I could do with a fraction of the money he had.

 

[y2kitty]

He's bipolar.

 

[Amys Bling]

I believe the tattoo on his diamond and ink encrusted hand sez "Money Bagz".

Haha

 

[Amber St. Clare]

He's bipolar.

So am I but I live wihin our means. Reluctantly {