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NFL player sues manager for fraudulent bitcoin investment

Darren McFadden, an American football running back for the Dallas Cowboys, has filed a lawsuit against his business manager for allegedly mishandling his money worth $15 million, which includes loss of $3 million investment in bitcoin project.

The lawsuit was filed against Michael Vick from Mabelvale, Arkansas. The complaint against Vick, who is not the former NFL player, stated, “Rather than securing for Plaintiff a lifetime of financial security as Defendant Vick promised Plaintiff, Defendant Vick covertly used Plaintiff's income as his personal slush fund to subsidize his own lifestyle and expenses and to invest in his own projects."

Associated Press reported that Nick declined to comment on the lawsuit immediately as he hasn’t seen the complaint against him. The suit said McFadden revoked Vick's power of attorney and claimed that Vick used McFadden’s income for his own gain.

The lawsuit further stated saying that, Vick allegedly told McFadden that in order to safeguard his money, Vick needed to be "further empowered" to help the player avoid the "financial disasters that tend to flow from unsound spending habits, poor management, or speculative financial advice."

Talking to Dallas Morning News, McFadden said, “"It definitely is. You have to be careful who you choose and for me personally I just feel like I put too much trust in one person and things didn't get handled right, so it's one of those deals where you want to get some answers and figure out what went on." McFadden also told that it is a cautionary tale for other athletes.

McFadden played college football for the University of Arkansas, and was picked fourth overall by the Oakland Raiders in the 2008 NFL Draft. He was two-time Heisman Trophy runner-up. McFadden gave Vick power of attorney on Aug. 10, 2008.

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