Young has lawyered up and is now trying to untangle the mess he feels left him in dire financial straits by the hands of two financial advisers. In 2012, Young defaulted on a $1.9 million high interest payday loan from Pro Player Funding, LLC. Young claims that he did not authorize that transaction, but instead was misled by his agent and financial manager through forgery and deception.Â He is now, however, saying that he may have signed documents, but does not remember which documents he signed and when he signed them.
Young, a Houston native and former University of Texas star, signed with the Tennessee Titans as the third overall pick in the 2006 draft for $54 million. His tenure with the Titans took a sour turn and so did his financial dealings after he discovered that a large sum of his money was being allegedly misappropriated.
In an effort to recoup some of the funds missing, Young filed suit against Ronnie T. Peoples, and his Raleigh-based company Peoples Financial Services, and Houston attorney Major Adams II for making millions of dollars disappear. According to the suit, Young was leftÂ “in the unenviable position of losing no less than approximately $5.5 million while his assets were under [Peoples Financial Service]’s control.”
The suit continues to claim that nearly $13 million more in “counter-withdrawals,” “debit memos” and checks are “untraceable” in Young’s accounts with the company, according to reporting by the Houston Chronicle.
For more on the story, head over to the Houston Chronicle.