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Keeping professional athletes and entertainers in financial

in Enter the Beast
19.03.2018 08:24
von lucky | 180 Beiträge | 1080 Punkte

check is unlike any other type of investment planning, says Blazer's former BCM colleague. Because professional athletes often come into wealth very quickly and at a young age, they sometimes give advisers like Blazer significant authority over their finances. "My take was always a lot of things would be done on a handshake basis, as in, 'I've got your back, you've got my back, let's move forward,' " the former http://www.officialnewyorkislanders.com/Adidas-Andrew-Ladd-Jersey colleague says.

As a result of that trust, clients would grant Blazer power of attorney to make decisions on their behalf, or they would pre-sign bank authorizations, making it easier and faster to take care of any issues that came up. That sometimes meant assuming clients' risks. According to court documents, Blazer once signed on as a guarantor on a Mercedes-Benz lease for Southern Mississippi tight end Shawn Nelson weeks before he was drafted by the Buffalo Bills. When Nelson defaulted in 2011 -- at the end of his 17-game NFL career -- he and Blazer were on the hook for nearly $100,000. Another time, he co-signed on a $50,000 loan for the rapper Tyga, known as much for his music as for Jeremiah Attaochu Youth jersey his former relationship with "Keeping Up with the Kardashians" star Kylie Jenner. One investor in BCM, Robert Wilson, had Tyga as a client. Tyga, whose real name is Michael Stevenson, and Blazer were sued in 2013 when the rapper defaulted on the loan.
Athletes and high-profile clients often look for "the next big thing" that could be very lucrative, Blazer's former colleague says: "Nobody wanted to do vanilla. Over time, the ideas keep getting a little more exotic." Blazer had his sights on the silver screen, and he wanted http://www.officialrayshop.com/Steven_Souza_Jersey his clients to go along. "He said, 'If I can get them to invest in these movies, and these movies take off, they're going to tell everybody else, 'Hey, we can get you guys in Hollywood,' " the Blazer associate says. "He thought it was sexy."
Blazer's foray into movies began in 2009, after a business partner introduced him to an actor and a producer -- not named in a court record that references the meeting -- pitching an idea for "Mafia the Movie." The producer persuaded Allen Barbre Jersey Blazer to raise money for that movie, as well as a project called "Sibling," which later became "A Resurrection." As the fundraising demands kept getting bigger, Blazer struggled to draw interest in the project, the associate says.
Blazer started to get desperate. So, after one NFL client, unnamed in an Securities and Exchange Commission complaint, turned Blazer down in October 2010 to fund one of his films, Blazer took matters into his own hands. He used a copy of his client's signature to authorize five bank transfers totaling $450,000; the money would be moved into an account to make "Mafia the Movie." Blazer also made a $100,000 transfer from the NFL client into an account for "Sibling," according to court records.
It would be about two years before the client realized what had happened and threatened to sue Blazer if he didn't return the $550,000. Blazer returned the money -- by forging another client's signature and abusing his power-of-attorney privileges to transfer $600,000 from that client's accounts, according to records. Blazer used the extra $50,000 taken from the second client to invest in a country music management venture. In January 2013, Blazer took an additional $50,000 of that client's money for the music project.
In total, between October 2010 and January 2013, Blazer took $2.35 million from five clients to invest in movie and music projects, court documents state. According to court documents, Blazer returned just $790,000 to clients he defrauded. "Mafia the Movie" was never released in theaters. It was retitled "Mafia" and went direct to DVD in 2013. "A Resurrection" was released in March 2013 and bombed, costing an estimated $5 million to make and grossing just $10,730 in the United States, according to IMDB.com.
The site gave the film four stars out of 10. One reviewer wrote that it was a "safe PG-ish film" for fans of the supernatural but not a convincing horror movie: "The suspenseful and dark atmosphere make the film a nice movie to watch with your grandmother or someone who doesn't like other more gory horror films but it is also a film that could have been better in so many ways."
Outside the Lines reached out to several of Blazer's clients and some of their attorneys, but most declined to comment. One, Los Angeles Chargers offensive tackle Russell Okung, exchanged a few text messages about his dealings with Blazer but declined to go into detail. "I didn't move money into his movie. He stole it and forged documentation," Okung wrote.
In a May 2016, Blazer was quoted by the Pittsburgh Tribune-Review as calling the episode a "miscommunication that got out of control" and saying athletes can have a "selective memory" about their financial decisions. But he'd later confess to a judge that he had invested clients' money without their authorization. cheap nfl jerseys cheap nfl jerseys wholesale jerseys cheap jerseys china


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