Money shows people's true colors, they say, and NBA players learned that the hard way sometimes. Just like players themselves, those around them get shocked when they know how much money the stars will make, which could prompt wrongdoings sooner or later.
Charles Barkley recently talked about how his first agent stole $100 million from him and what he learned from that experience. Well, Chuck isn't the only one who's been betrayed by a close person.
Gilbert Arenas had a similar experience, as he recalled in an interview with VladTV. The former Washington Wizards star opened up about how his former assistant used a smart method to steal money from him, taking around $6.9 million, according to Arenas.
"You have your main account, then you have your play-money. I was always like, fixed income, basically from my rookie season. So I have Bank of America, and once you sign a contract, you get a financial advisor, they put the money in whatever, Wells Fargo, but I still keep my play-money. I just put $5,000, put $10K. I'm going to the casino, put $20K in there. Around 2006/07, he moves with me. He was there for two months. He was my assistant, he lived at the house, took the cars out. So I guess through the mail, you have my accounts. You have stubs of my Bank of America account because it was just my little personal bank account. It didn't go to my financial advisor. So all you needed at the time was the number and your social security, so I set he set me up online as an online user that he had access to. What ended up happening was whenever I needed something done, he'll just go like, 'John, you can tell them I need my card fixed? Can you tell them to put 10 grand in my account?' So he'll call and say, 'hey, Gil needs 10 grand in his account, he's getting ready to do this.' So, what ended up happening is, he is saying, 'hey, he's going to Miami, he needs $50,000. When they put the money in my account, as soon as it hits the account, he takes it out. So, whenever I go to the bank, I don't see nothing different, because if I had $5,000 in there, he's not touching the $5,000. He's only touching the money he's ordering."
This was a subtle and effective way to steal money from his boss, but all things come to an end, even if they look untouchable. John White, who served as Arenas assistant from 2006 through 2012, was found guilty on multiple charges in 2015. Among the things he reportedly bought, we can find a Ferrari and Range Rover.
It's bad that Arenas found that one person he considered part of his family did him dirty. He's fine knowing how well he managed himself when getting contracts, but it's a shame that somebody took $7 million from him and made it look like nothing was happening.