Heatley, a left winger with the Minnesota Wild, alleges that his former agent and business adviser, Stacey McAlpine, as well as McAlpine’s parents, Gerald and Eugenia, lured him into several real-estate ventures across Canada and the United States with promises of huge returns that never materialized. The lawsuit, filed last week in the Court of Queen’s Bench in Calgary, also alleges that Heatley’s former agent dipped into his bank accounts and made unauthorized withdrawals of more than $4-million.
Yeah the $4m part is bad but when will these moron athletes learn to stop investing their money into their wide eyed friends doomed business ventures.
I believe the $4 million part sounds illegal and I hope he gets that back but the other stuff simply sounds like a young kid that was foolish enough not to be more hands on with his money.
Really anytime some developer promises you 100% return on a multimillion dollar real estate investment common sense should prevail and the investor should do his own investigating to see if it's legit. It says that Heatley's side found out that there was misrepresentation because the investments weren't sound but how about doing your own due diligence finding out before you give them the money rather than after that it was risky? Lesson learned the hard way.
Real estate plays have always had a certain risk of return built in. Dany isn't unique in his losses nor his gullability; He's not the first one and he won't be the last one. At least he has the money to fight.
Yeah the $4m part is bad but when will these moron athletes learn to stop investing their money into their wide eyed friends doomed business ventures.
I feel bad for pro athletes in this sense. These guys are good at sports, they're not businessmen and not necessarily good with money. They have their trust in people while they go out and do their job to earn a great living. From the time they're teenagers a lot of them are surrounded by sycophants who leech off them for years.
It's easy to say "do some due diligence" or "he should've known there were risks" after the fact. Again though, these guys have no real knowledge of investing or business. They basically work with their hands and while they make a lot more money, you can't expect them to have anymore business savvy than your average blue collar worker. The advisors and mentors they have though, that's a whole other story.
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Heatley Sues ex-agent for 11 mill
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