Future National Basketball Association Hall of Famer Tim Duncan of the San Antonio Spurs has filed a second lawsuit against a former financial adviser he alleges cost him millions of dollars in lost investments.
Duncan’s lawsuit, which was filed last week, contends that Charles Banks of Atlanta, Georgia encouraged Duncan to invest $1.1 million in a cosmetics company that Banks claimed was profitable when in reality it was going bankrupt.
According to the San Antonio Express-News, Duncan wants his investment returned to him and is trying to get punitive damages from Banks, who has previously denied the allegations.
Duncan first filed a lawsuit in January, alleging that a series of investments enriched Banks but ultimately cost Duncan more than $25 million.
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