Allen Iverson falling deeper in debt?

Allen Iverson has reportedly gone from 11-time NBA all-star to financial deadbeat. The Philadelphia 76ers icon was recently ordered to pay over $860,000 to a jeweler, and he couldn't cut a check.

A Georgia judge has ordered the seizing of Iverson's bank account, so the relatively little money he has left will be garnished, reports the Philadelphia Inquirer.

This isn't just another formerly famous athlete blowing a ton of cash. Iverson was among the biggest superstars in the NBA, earning more than $154 million during a professional career that began back in 1996. (This doesn't include endorsement money and other business deals.)

How did Iverson lose so much?

Loyal to his friends from a youth spent in Virginia, Iverson traveled with one of the biggest posses in professional sports. Bill Lyon of the Philadelphia Inquirer says the group has as many as 50 people for some Sixers home games. "A.I." took a hair stylist on the road with him and also loved to buy jewelry for himself and his beloved mother, Ann Iverson.
Iverson felt he owed his childhood friends from the old neighborhood because "They made me." The feeling was, without them protecting him from the mean streets, he would have never made it to the NBA.

Apparently they also unmade him.

Despite rumored interest from the Lakers, Iverson is more likely to find playing time and (more importantly) cash outside the U.S. in a place like Puerto Rico.

Source:Yahoo News!
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It's crazy to see how many athletes and just famous wealthy multi millionaires out there that have sickening spending habits that get so bad they end up just as broke as the average joe

How do you blow 154 million dollars? I don't care how many friends you are helping... if you can't manage 154 million dollars, you are a fucking idiot.

seriously just thinking of this pisses me off and they wonder why america and all these other countries economies are shit (recession). People like this just blow money on whatever the fuck they want until they have no more money to spend. I am sure if he turned in half his jewelry he'd get back half the money hes made/spent moron

just saw this on Yahoo! news haha

theungod wrote:just saw this on Yahoo! news haha

yeah yahoo news is nice, they are owned or split with ABC world wide news so they always have the more appealing stories right away gotta love yahoo..

Can't really say that I'm surprised...The dude has bee irresponsible his whole life.

GangusKahn wrote:Can't really say that I'm surprised...The dude has bee irresponsible his whole life.

well you think instead of hiring a barber/stylist to come on the road with him you think he'd hire a financial annalist something like that especially with all that money he made

ƒμℵκ ♬`√Θ∫μmε wrote:

GangusKahn wrote:Can't really say that I'm surprised...The dude has bee irresponsible his whole life.

well you think instead of hiring a barber/stylist to come on the road with him you think he'd hire a financial annalist something like that especially with all that money he made

When Jeezy got his 1st one million dollar check, he threw it in the trash. He didn't know what a check was, lmfao. These hoodboys don't know any better. I doubt AI even knew what a financial advisor was.

41OMaXiMuS wrote:

ƒμℵκ ♬`√Θ∫μmε wrote:

GangusKahn wrote:Can't really say that I'm surprised...The dude has bee irresponsible his whole life.

well you think instead of hiring a barber/stylist to come on the road with him you think he'd hire a financial annalist something like that especially with all that money he made

When Jeezy got his 1st one million dollar check, he threw it in the trash. He didn't know what a check was, lmfao. These hoodboys don't know any better. I doubt AI even knew what a financial advisor was.

yeah i am sure being wealthy in america is a lot different than Puerto Rico or anywhere else. Especially with all the taxes, charities,etc all the hidden fees add up. But if you make over 100 million dollars no matter who you are, you should be able to manage your money better than that smh.. And I never heard about that about Jeezy he was probably already rich from selling all that yayo lol