Allen Iverson May be Broke After Earning $154 Million
1 year ago
Judge orders former NBA star's bank accounts to be commandeered.
Allen Iverson was ordered by a Georgia judge last month to pay back a debt of $860,000 that he owed a jeweler.
Iverson didn't have the money in his account to pay the jeweler and now the same judge has ordered that the former star's bank accounts be commandeered and his accounts garnished.
[ALSO READ: Iverson Divorce: Ex Wants List of Mistresses]
According to Basketball-Reference, Iverson earned $154 million dollars in his playing career which lasted over a decade. Recently, Iverson played in Turkey where rumors of his financial troubles began.
"The 76ers' former all-everything guard is broke - by all accounts except his own - and playing here in Istanbul for a number of reasons, none of which is to become an ambassador for Turkey's solid, but often overlooked, professional league," wrote Philadelphia Inquirer reporter Kate Fagan in November, 2010.
For years, many websites have reported that Iverson had a gambling issue. His ex-wife also said that she had no money to pay her bills as Iverson wasn't sending her money.
The story of Allen Iverson has been one that is all too familiar to many of us; an athlete, who never encountered this amount of money when he was younger nor knew how to handle it, losing it all.
Now, Allen Iverson is probably on his way to a life like Evelyn Lozada's ex-husband Antoine Walker, which consists of playing basketball overseas just to pay the bills.
An NBA report says that 60 percent of NBA players go broke after 5 years. Unfortunately, for Iverson, while it may have not taken 5 years, after all the money he's earned he's lost it all.