Darren McFadden May Have Lost Out On $237M Bitcoin Investment
When retired NFL running back Darren McFadden filed a lawsuit against his business manager last year, alleging that he mismanaged his money throughout his professional career, he had no idea how much he would be worth had his money actually been invested properly.
McFadden says he lost $3 million in a Bitcoin business venture and that most of the fraud was committed by a man named Michael Vick. Vick, an Arkansas native, is not the NFL player most associated with that name.
Had Vick invested in Bitcoin for McFadden, it could be worth $237 million, according to Chase Carlson, an investment fraud attorney.
When McFadden sued Vick, one bitcoin would cost an investor $790. Today's price would cost you almost $20,000.
McFadden fired Vick as his business manager last year and had given Vick power of attorney in 2008, just months after he was drafted with the fourth overall pick by the Oakland Raiders.
McFadden says those power of attorney documents were fraudulent.
McFadden's first NFL contract was a six-year deal with a value of $60 million.