Allen Iverson's Earnings Garnished To Pay Back Jeweler

TMZ:

Allen Iverson's bank account has been commandeered by a Georgia judge... who's garnishing the former NBA star's earnings so A.I. can repay a 6-figure debt to his flashy GA jeweler.

Read the whole story: TMZ

Comments

[Boss813]

09:48 AM on 03/01/2012

Ok, let me explain to you all this whole situation. Theres is a journalist from Philly who creates misleading news stories about A.I and has been doing it for years. If you archive, you'll see his wife complain to the judge that A.I took 20 million out of their joint account a couple of months ago and bought diamonds! Diamonds=Assets. The jewlery that is suing A.I is suing because he sold the jewlery to another jewler. Prior to doing so, A.I didn't want the jewlery anymore, and told the original jewler that he'll sell them back for 30%of the worth and cover the other 70% The jewler said "NO." Therefore A.I sold the jewlery to another jewler and offered to give the original jewler $460,000(which is what their worth). the jewler once again said "No" Now the jewler is suing for double the worth of the jewlery and A.I is not with it. the judge ruled in the favur of the jewler, and AI felt differently about it and withdrew a little over 30million out of the remainding of his accounts. Therefore the judge decided to garnish A.I's main account. So do the math, 20 million worth of diamonds, and a little over 30million worth of cash hidden..A.I , sounds like he's tired of people taking advantage of him..And oh yeah, A.I's lights are still on at his 6million dollar georgia mansion, and has made every monthly mortgage payment on it.A.I broke? I think not!

[Alouisious Manfree]

01:48 PM on 02/15/2012

There is justice in the world after all. Paying grown men millions upon millions of dollars to play a childs game is ridiculous. And more times than not, the players squander their fortune away, i.e.. the $800K + that this idiot owes to ONE jeweler?? Seriously?? Your average American doesn't RETIRE with that kind of asset available to them.

This guy deserves whatever misery befalls him for his selfish life style.

[Mr Nightlinger]

06:54 PM on 02/14/2012

Punk.

[Mr Nightlinger]

06:54 PM on 02/14/2012

This is as shocking. Get outta here!

Next thing, you are going to tell me that Whitney Houston used drugs.

[AnnoymousII]

06:47 PM on 02/14/2012

I do not understand why the just do not put like 20% of their earnings in a CD every month and just forget about it and let it compound for 10 year or more. That way; Allen Iverson's $154 million would be worth at least $30 million or more when he retires. Such an easy way to do it too!

[NewsCoffee]

03:44 PM on 02/06/2012

I can understand that Iverson grew up not having a lot of money and probably didn't give much thought to saving and investing, but his business manager should have known better than the money would stop rolling in eventually.

Regardless of his bad practice habits and very questionable personal choices, this is a guy that never took a play off on the court and its sad to see him end up like this.

[Wally Osmond]

12:33 PM on 02/14/2012

Iverson is misunderstood. Check this out peoples: http://www.fullcourtpest.com/2011/03/in-defence-of-allen-iverson.html

[ptrgamb]

03:24 AM on 02/05/2012

You have to wonder what the role of agents is. Apparently it's not to ever say "no" to a client.

[rosegarten]

09:49 AM on 02/02/2012

...and here we go. :(

[GlennWatson]

08:55 AM on 02/02/2012

Practice? We talkin about practice, not a game, not a game, We talkin about practice. We talkin about practice.

[Pam James]

07:46 PM on 02/01/2012

That's not a shame, but a damn shame! Pay your bill bro!

[22Keys]

02:29 PM on 02/01/2012

If he is smart he will sign with Miami, OKC, or LAC for a small amount.

[jayquintana]

07:28 PM on 02/01/2012

I doubt any NBA is looking for a "six foot, mid-thirties, shooting guard." His best bet would be China or Japan -- I'm sure he could pull down a couple hundred thousand a season over there.

I can just see the (groan-inducing) headline, "From the Big East to the Far East."

[22Keys]

07:58 PM on 02/01/2012

He needs to sign for league minimum and bring them their towels. Some team would do that for A.I

[clarendon67]

02:14 PM on 02/01/2012

I remember some years ago when Latrell Sprewell was renegotiating his contract I think with the Timberwolves, he said of the offer that 12 million dollars or whatever it was could not feed his family. The offer was withdrawn and he ended up in foreclosure. Someone need to teach these young men simple money management. They earn all this money and end up just like any other working stiff.

[matrixcl55]

01:31 PM on 02/01/2012

Duh! Would someone please call coach John Thompson 2 and tell him his prodigy is still an undisciplined 40 year old thug....

[JohnHopwood2]

12:23 PM on 02/01/2012

Most people here have a lot of financial advice to give. Everybody is different and everybody has a right to spend the money the way they want. He earned it. When and if you make your millions I am sure you don't want people giving you advice on how to spend it. Right?

[MILLZ2667]

02:19 PM on 02/01/2012

We want people to pay their bills! He earn it.....nice use of the English language!

[In Awe]

03:11 PM on 02/01/2012

You misread the comment, his English was correct in that instance.

[JohnHopwood2]

11:36 PM on 02/01/2012

Thanks

[TBrennan]

11:53 AM on 02/01/2012

I have a very low opinion of pro athletes and this is a case in point. I always thought A.I. was a low class bum like so many in the NBA and other leagues. Perhaps A.I. can team up with T.O. and sell pencils in front of sports stadiums? They would make pretty awesome greeters at Wal-Mart too. The Bling Brothers?