San Antonio Spurs star Tim Duncan has filed another lawsuit against a former financial adviser who Duncan contends has cost him millions of dollars in lost investments.
The lawsuit filed last week claims Charles Banks of Atlanta urged Duncan to invest $1.1 million in a cosmetics company that Banks said was profitable when it was actually about to become bankrupt.
The San Antonio Express-News reports Duncan wants his investment returned to him and is pursuing punitive damages against Banks.
Banks previously has denied the allegations.
The NBA star filed an initial lawsuit in January that contends a series of investments enriched Banks but ultimately caused Duncan more than $25 million in losses.
Duncan has said the losses came to light during a review of finances as part of his earlier divorce.
Topics Lawsuits
Was this article valuable?
Here are more articles you may enjoy.
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
Brown & Brown Estimates Cost of Howden-Driven Talent War Could Hit $60M in 2026 
Viewpoint: Who Gets Credit for Successful Renewal During Soft Reinsurance Market? 
Bring It On: AI Strategy Sways Underwriter Choices of Employers 
