Charles Barkley Lost Millions In Investment Scheme

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Charles Barkley Lost Millions In Investment Scheme

 

Charles Barkley was one of the most entertaining players in NBA history. On and off the court. Thankfully this hasn’t changed for his second career in broadcasting. The Inside the NBA on TNT crew simply is the best when it comes to basketball shows on TV.

But basketball stars often are targeted by scammers and frauds, who want their money. Charles Barkley has been targeted before and now revealed that he lost $6 million to an investment scheme hatched by Alabama lawyer Donald Watkins Sr. and his son, Donald Watkins Jr., who are currently on trial.

Barkley isn’t the only professional athlete who lost millions, but also  former NFL players Takeo Spikes and Carlos Emmons. They all believed to be investing in a biofuels company called Masada, which is worth billions.

Via AL.com:

 

“Guthrie said Barkley called one morning said he wanted Guthrie to wire a million dollars to Watkins Sr., and that Watkins Jr. would call with wiring instructions. According to Guthrie, Barkley said “This is mine and this is my investment. I want to do it.”

Documents shown in court show Barkley Enterprises made seven investments or loans with Watkins Sr. and his various companies, totaling $6.15 million. Those payments began in 2007, and ended in 2014. Barkley Enterprises has received none of that investment back nor any loan repayments.”

“I haven’t gotten a dime back and we are proceeding — this thing has been a shock to my system to be honest with you. I consider that Donald has always been a friend to me and this whole situation is really unfortunate. Because I’ve lost a lot of money.”

 

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