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SBD/Issue 150/Sports Industrialists
Brian Bosworth Files Suit Against NFL Agent Gary Wichard
Published April 19, 2010
|Bosworth Alleges He Lost More
Than $2M Because Of Agent
Former NFLer BRIAN BOSWORTH sued prominent agent GARY WICHARD Friday, alleging that he lost more than $2M because Wichard assured him that his interests were preserved and protected by a financial advisor he knew to have financial mis-dealings with another NFL player client. Bosworth, who was Wichard's client since he was drafted into the NFL in '87, sued Wichard and his company Pro Tect Management Inc. in L.A. Superior Court for negligence, negligent misrepresentation, intentional misrepresentation and breach of contract. The suit asks for punitive damages, general damages, including emotional injury and an accounting of Bosworth's economic damages. The suit alleges that Wichard "had direct knowledge" that the business manager he introduced Bosworth to and encouraged him to invest his money with "had engaged in fraudulent activity." The lawsuit further alleges Bosworth "is informed and believes and thereon alleges that Wichard was receiving some sort of economic benefit from referring players to" the business manager. Wichard did not immediately return a call for comment. His attorney, HOWARD SILBER, who, like Wichard is an NFLPA-certified agent, said he had not seen the lawsuit and had no immediate comment. Wichard represents a number of high profile NFL Draft prospects, including RB C.J. SPILLER and QB JIMMY CLAUSEN.
RELATED TO '09 LAWSUIT IN N.Y.: The case filed against Wichard is related to a lawsuit Bosworth filed in '09 against his longtime financial advisors -- JUDD ROTHMAN and his son, FINN ERIK ROTHMAN -- in N.Y. Federal Court for breach of contract, breach of fiduciary duty, fraud and conversion. That '09 suit alleges that the two converted in excess of $2M of Bosworth's money for their own personal use. Wichard, who allegedly introduced Bosworth and encouraged him to invest his money with Judd Rothman, was not named as a defendant in the '09 suit. But since that first lawsuit was filed, former NFLer ROB MOORE, who was a client of Wichard's, and Moore's wife, DRUCILLA, contacted Bosworth and "informed Bosworth that Wichard had knowledge of J(udd) Rothman's misappropriation of funds since 1998," according to Friday's lawsuit. Bosworth used the Rothmans to manage in excess of $8M of his money from when he was drafted in '87 until he discovered in '08 that the Rothmans had taken out a $14M life insurance policy on him and withdrew a $1.4M loan against the policy without his knowledge or consent. Additionally, other former NFL player clients of Wichard have told Bosworth that Judd Rothman allegedly misappropriated their funds. One of them, former NFLer CEDRIC JONES, currently has a lawsuit pending against the Rothmans.
INSIDE THE LAWSUIT: In the suit filed Friday, Bosworth alleges, "Wichard represented to Bosworth that he was taking appropriate steps to preserve and protect his rights and interests and assured him that such interests were preserved, protected and appropriately managed. ... Said representations and assurances by Wichard were false when made and were made when Wichard ... knew them to be false, or when making them acted in reckless disregard of the knowledge of the falsity of such untruth. Wichard had direct knowledge that J(udd) Rothman, Bosworth's business manager ... had engaged in fraudulent activity." The suit states that throughout Bosworth's career, Wichard "would receive Bosworth's payments and checks for Bosworth's income." Wichard's company has the name "Pro Tect Management" and Judd Rothman has done business under the company name of "Pro Tect Business Management."