Dwight Freeney suing Bank of America over alleged fraud scheme

Back in 2013, Dwight Freeney signed a two-year contract with the Chargers worth $8.75 million, before possible incentive bonuses. On Tuesday, Freeney’s attorney revealed the seven-time Pro Bowl player is suing Bank of America for more than twice that amount.

The lawsuit alleges Freeney lost more than $20 million as a result of a fraud scheme by the popular bank after the outside linebacker chose them to manage his finances. Here’s more according to the press release from Freeney’s agent, Jeffrey Isaacs.

“In 2010, Dwight Freeney authorized Bank of America to manage his assets, including his NFL salary,” Isaacs said. “Two years later, Dwight had lost more than $20 million because of BofA’s fraud scheme.”

“The entire scheme could not have happened without the substantial involvement and approval of BofA. It was a nightmare scenario: my client went to one of the nation’s biggest banks and asked for its help managing his finances. And what did BofA do? BofA treated Dwight like a mark in a con-game.”

Bank of America has also issued a statement on the matter.

“The two people responsible for this wrongdoing have already been convicted,” [Bank of America spokesman Bill] Halldin said. “The primary wrongdoer never worked for the bank or any of its affiliates and the other person committed her criminal conduct after she left Merrill Lynch in 2010.”

Freeney spent the first 11 seasons of his career with the Colts before joining the Chargers. He played in all 16 games last season for the first time since 2011 and recorded 3.5 sacks. Now 35, Freeney is a free agent after San Diego decided not to offer him another contract.