Saturday, February 5, 2011

Dr. J Getting Sued

The good doctor, Dr. J Julius Erving is being sued for alledgedly defrauding a Manhattan woman out of $420,000 that involved money manager Kenneth Starr. No, not the Ken Starr that spent taxpayer money trying to catch Bill Clinton with his pants on the ground.

Mary Gilbert is suing Doc J for breach of contract and fiduciary duty and is seeking payment of lost profits along with punitive damages and "prejudgement interest".

Gilbert claims Erving, 60, and Starr convinced her to invest in a "lucrative" limited partnership called Commonwealth Investors, in which the formerly high-flying forward was a partner.

I hope Erving didn't really know what was going on because I would hate to see one of my heroes from my youth being a con artist. The aforementioned Starr is awaitng sentencing on March 2 for running a $50 million Ponzi scheme.

One thing that isn't clear is how much Dr J knew about the intricacies of his deal with Gilbert. Maybe Starr or Erving's own "financial advisor(s)" are more to blame for his being culpable in this matter than he himself is.

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