Looks like he tried to do the sensible thing and consult with a professional about money but looks like he trusted him just a bit too much. No word yet if the Braves are going to sue Neagle for stealing their money



Retired baseball star Denny Neagle sues Northbrook-based financial adviser


Retired baseball all-star Denny Neagle filed a lawsuit Monday claiming that a Northbrook-based financial adviser who was “like a father” to him pilfered money while investing in risky “alternative investments” without his knowledge.

Dennis and his former wife Jennifer Neagle were “utterly unsophisticated” when it came to financial management and investment, and came to William S. Leavitt and Leavitt Capital Management, Inc. for guidance in 1995, according to a suit filed in Cook County Circuit Court.

The Neagles told Leavitt that they needed their money to be placed in conservative and liquid investments such as stocks, bonds and mutual funds, the suit said. Leavitt promised to do so and had full access to the Neagles’ accounts, check-writing privileges and the ability to execute wire transfers on the their behalf.

LCM was the Neagles’ official billing address and paid all of their bills and utilities, the suit said.

“Leavitt became like a father to the Nagles,” the suit said. The Leavitts took vacations with the Neagles as well as attending Denny’s baseball games. “The Neagles trusted Levitt so much” that he was named in their wills as executors of their estates and trustee of some accounts created for the Neagles’ children.

Unbeknownst to the Neagles, Leavitt was allegedly investing the Neagles in hedge funds, private equity funds and other unregulated investments that were incredibly risky, illiquid, and laden with fees, the suit said.

The suit claims that at one point Leavitt placed 80 percent of the Neagles’ investment portfolio in these “alternative investments.”

The suit claims the Neagles were made aware of Leavitt’s actions when someone visiting their home in the late 2000s happened to notice and question one of the subscription agreements.

The suit claims the Neagles also paid taxes on “phantom income,” incurred huge losses in failing “alternative investments,” cannot now access most of their financial portfolio because it is locked in illiquid “alternative investments” and must pay substantial “capital calls” or cash infusions in the thousands of dollars for investments that yield no long-term investment payoff.

The five-count suit claims breach of fiduciary duty, negligent misrepresentation and unjust enrichment. It seeks a jury trial, damages, accounting of all “alternative investments,” return of all amount paid by the Neagles for the investments as well as any compensation received, and court costs.

Leavitt was not available for comment Monday evening.

Neagle, who debuted in the major leagues in 1991, was last under contract with the Tampa Bay Devil Rays in 2005.

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Proud member of the white guy grievance committee

It aint the six minutes. Its what happens in those six minutes.

Colorado Rockies, Tampa Bay Devil Rays and legal troubles

In December 2000, the Colorado Rockies signed Neagle and fellow left-hander Mike Hampton to expensive contracts. Neagle's contract was for five years and $51 million,[1] and his 17-19 record and 5.31 ERA over the 2001 and 2002 seasons spelled disaster for the Rockies. Due to injuries, Neagle only started seven games in 2003. He went 2–4 with a 7.90 ERA, pitching what was to be his last Major League game on July 20, 2003.

Neagle missed the 2004 season due to ligament and elbow surgeries. Then, in late November 2004, a Denver policeman ticketed him for soliciting a woman for oral sex. Less than a week later, the Rockies canceled the final year of his lucrative contract, citing a morals clause in his contract.[2] The incident ultimately led to the end of Neagle's marriage.

He signed with the Tampa Bay Devil Rays before the 2005 season, but did not play due to injury.

On January 24, 2006, Neagle pleaded guilty in Jefferson County, Colorado, on one charge of patronizing a prostitute. Although the sentence can carry a maximum of a $500 fine and up to six months in prison, Neagle was only sentenced to 40 hours of community service.

On August 27, 2007, Neagle was arrested for and later pleaded guilty to driving under the influence.[3]

On December 13, 2007, Neagle was mentioned in the Mitchell Report in connection with steroids.
From his wiki

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Had the wrong team cited that Neagle stole money from, good looking out Phil.

_________________
Proud member of the white guy grievance committee

It aint the six minutes. Its what happens in those six minutes.