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Allen Iverson Says Not Broke

February 1, 2012 by staff 

Allen Iverson Says Not Broke, A Georgia judge has seized control of former basketball great Allen Iverson‘s bank accounts and will begin garnishing his earnings in order to repay the hefty debt of $859,896.46 to his jeweler, according to TMZ.
Iverson was sued by Aydin & Company Jewelers back in 2010, after not taking care of a whopping $375,000 bill he incurred at the retailer. Since Iverson never responded to the lawsuit, the courts then issued a default judgment in favor of the jeweler to cover the cost of the bling, interest, and court and attorney’s fees. Ignoring the bill only resulted in the judge allowing the jeweler to tap into the 11-time NBA Allstar’s Wells Fargo accounts.

The last time Iverson played was for the Philadelphia 76ers for the 2009-2010 season, but he left after only playing a few months and missing five games due to some mysterious health issues that had afflicted his then-4-year-old daughter.

As to whether or not Aydin & Company will get their monies from the man who was once given the esteemed title of being the 5th greatest NBA shooting guard of all time by ESPN, it is yet to be seen. In 2010, it was widely reported that Iverson was flat broke and deep in debt. There was talk that a relative who had loaned Iverson money went as far as to contact NBA teams for a contract for him so that the debt would be repaid.

In August of last year, Iverson was also sued for a reported $2.5 million by a man who claimed that he was assaulted by one of the player’s body guards in a 2009 bar fight. A federal judge, however, dismissed the case based on insufficient evidence.

The most damaging news of all, though, came from an article that was published in the Philadelphia Inquirer back in March 2010. The columnist alleged that according to reliable sources, Iverson would “either drink himself into oblivion or gamble his life away.” The writer went on to state that Iverson had been banned by major casinos in Detroit and in Atlantic City. He also alleged that Iverson’s wife had filed for divorce and sought sole custody of their five children in addition to alimony, child support, and a share of their assets.

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Comments

One Response to “Allen Iverson Says Not Broke”

  1. TFear on February 1st, 2012 3:40 pm

    What an ignoramus! “Practice, we talking about practice here, practice”, always knew this idiot would end up broke. But, only two years after retirement?! What the heck did this fool do with 200 million dollars?!

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