Apr 26, 2015; San Antonio, TX, USA; San Antonio Spurs power forwardTim Duncan
(21) posts up against Los Angeles Clippers power forwardGlen Davis
(R) in game four of the first round of the NBA Playoffs at AT&T Center. Mandatory Credit: Soobum Im-USA TODAY Sports
Tim Duncan’s former financial advisor Charles Banks from Bexar County wants a judge to either move a portion of his suit to Colorado or force Duncan to arbitration in California.
Duncan filed a lawsuit for over $1 million from his advisor back in January for the damages and betrayal he caused on him for persuading him to invest money wrongfully.
The hearing will be scheduled today by U.S District Judge Xavier Rodriguez. Banks stated the investment agreements that Duncan signed stated that all disputes over his investments must go to arbitration in San Francisco or Los Angeles.
Duncan felt that he has lost all trust in Banks and if it wasn’t for his money being revised for his divorce last year, he wouldn’t have known that some of the returns he was supposed to be getting back were missing.
Issues like this have occurred for many players, such as current players in the NBA finals Mike Miller and James Jones. It hurts to see a future Hall of Fame power forward like Duncan have to deal with an issue like this. Hopefully things will soon get resolved and handled the proper way later today.