Former NFL wide receiver Terrell Owens is suing his former agent, Drew Rosenhaus, as well as his brother Jason for breach of fiduciary duty, fraud, and negligence, Yahoo Sports' Rand Getlin reported Thursday. Owens is seeking recovery of up to $6.5 million, according to the report, which is based on legal filings.
Owens alleges that an introduction from Jason and Drew Rosenhaus to the now-banned financial adviser Jeff Rubin caused major damages. Owens is contending that the Rosenhaus brothers suggested he hire Rubin to manage his finances. That move went awry, Owens alleges, when Rubin put Owens' money in a series of bad investments.
Owens says that Rubin cost him $6.5 million — $5 million in bad investments, and $1.5 million from potential gains if the funds were invested properly.
"Terrell trusted [Drew] Rosenhaus when he recommended that Terrell hire Rubin as his financial adviser," Owens' attorneys, Curtis Carlson and Chase Carlson of Miami-based Carlson & Lewittes, P.A., said in a statement to Yahoo.
"It is completely ridiculous that Rosenhaus would refer a five-time Pro Bowler to a financial advisor who has been accused of stealing from his clients in the past, whose college degree was in Exercise Science, and who was inexperienced. Rosenhaus should have steered Terrell away from Rubin, not toward him."
The 39-year-old Owens hasn’t played in the NFL since 2010, when he spent the year with the Cincinnati Bengals. He has said that if he doesn't play this year, he will retire.