Former NBA Washington Wizards Player, Gilbert Arenas Axes Financial Advisor; Sues For S40 Million

By Ivy Candelaria | 2 years ago
Former NBA Washington Wizards Player, Gilbert Arenas Axes Financial Advisor; Sues For S40 Million
PHOTOGRAPH: NBA.com |

Imagine being so busy with your career that you need another person to manage your finances. Well, former NBA star Gilbert Arenas had that dilemma, so he got Lester Knispel to handle his finances for him. Thing is, the ex Washington Wizards guard lost his money, rather than having it kept safe. Read on to know more details.

According to TMZ, Arenas seeked the services of Knispel and Boulevard Management in 2006, to regulate his cash flow—and yes, he did have quite a lot. It could be recalled that Arenas engaged in an $111 million contract with the Washington Wizards in 2008.

Arenas said Boulevard accepted millions of dollars through wire transfers made by his former assistant John White. The so-called transfers were made between 2007-2-013, where White controlled the moving of “large and irregular” sums of cash from one account to another.

White was sentenced in September for fraud, connected to those wire transfers but in his lawsuit, Arenas said that Boulevard should also carry some of the responsibilities because he also paid them to oversee his money. Arenas added that Boulevard clearly swindled him—$2.25 million worth, to be exact. These were for services rendered.

Boulevard is quite known Hollywood. It has represented prominent clients like Shaq, the Kardashians, Rod Sreward, and Russell Brand, among others. Arenas is not taking any of this, though and wants at least $40 million in damages.

To date, no word has been received from Boulevard Management.

The 33-year-old Arenas last played professionally for the Shanghai Sharks of the Chinese Basketball Association from 2012-2013.

What could be next in this financial hullaballoo involving Arenas and Boulevard Management? Tune in to Movie News Guide for more updates.

Also Read: NBA TRADE RUMORS: WILL BOSTON CELTICS TRADE ISAIAH THOMAS & MARCUS SMART TO DALLAS MAVERICKS OR NEW YORK KNICKS?

Photo Source: NBA.com

About the author

Visiting entertainment sites was a daily activity for Ivy as it was a major stress reliever for her. What's the next best thing than finally working for one, right? Epic TV series and movie marathons had the same effect as well.A Communications graduate and now a future social worker who can't seem to stay away from writing, she is also a firm believer in wanderlust and hopes to explore as many places as she can.Follow her as she takes you through the hottest entertainment trends with Movie News Guide.