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Allen Iverson is Broke – Bye Bye Posse

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Yes, the infamous Allen Iverson “Practice” video where he says “practice” over 20 times

Financial News Story of the Day – Former NBA Star Allen Iverson May be Broke

Former NBA superstar Allen Iverson may be broke, as a judge seized his bank accounts and will begin garnishing his wages in order to repay his debts. Iverson apparently spent some money at a jeweler and owed up to $860,000 that he could not pay. According to those close to the former NBA superstar, Iverson was known to have traveled with a large posse and bought extravagant jewelry pieces for himself and his mother. The Lakers are rumored to be interested in him, and he was also offered a spot on an indoor soccer team strangely enough. However, his financial and personal life remain in turmoil. Digging deeper, the story gets much, much worse.

Excerpt: “The most damaging news of all, though, came from an article that was published in the Philadelphia Inquirer back in March 2010. The columnist alleged that according to reliable sources, Iverson would “either drink himself into oblivion or gamble his life away.” The writer went on to state that Iverson had been banned by major casinos in Detroit and in Atlantic City. He also alleged that Iverson’s wife had filed for divorce and sought sole custody of their five children in addition to alimony, child support, and a share of their assets.

Although, the latter did come to pass last December, Iverson’s estranged wife, Tawanna, claimed that her husband failed to pay child support and was instead spending extravagantly. She accused Iverson of withdrawing large amounts of money, including $20,000 to buy jewelry from the account that she had been using to pay rent and to maintain a home for their children.” (source: NewsOne.com)


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