Report: Terrell Owens suing former agent Rosenhaus for $6.5 million

By John Breech | CBSSports.com

Terrell Owens is going after former agent Drew Rosenhaus in a $6.5 million lawsuit. (USATSI)
Terrell Owens is going after former agent Drew Rosenhaus in a $6.5 million lawsuit. (USATSI)

Terrell Owens hasn't played in the NFL since 2010, but he's managed to stay in the public eye and it looks like he's going to stay there at least a little bit longer thanks to a lawsuit he filed against his former agent.

Owens is suing Drew Rosenhaus and Drew's brother Jason for breach of fiduciary duty, fraud, and negligence, according to Yahoo! Sports. Owens is seeking to recover up to $6.5 million in the lawsuit.

The lawsuit alleges that Drew Rosenhaus introduced Owens to Jeff Rubin, a financial adviser, and then advised Owens to let Rubin handle his finances. Owens eventually hired Rubin and in the lawsuit, Owens claims that as his new financial advisor, Rubin made a series of bad investments.

It's worth noting that in March, Rubin was banned from dealing with the securities industry, partly for the role he played in convincing 31 NFL players to invest in an Alabama casino. The project went bankrupt costing the group an estimated $40 million.

In the lawsuit, Owens alleges that his dealings with Rubin cost him over $5 million.

"Terrell trusted [Drew] Rosenhaus when he recommended that Terrell hire Rubin as his financial adviser," Owens' attorneys, Curtis Carlson and Chase Carlson said, via Yahoo! "It is completely ridiculous that Rosenhaus would refer a five-time Pro Bowler to a financial advisor who has been accused of stealing from his clients in the past, whose college degree was in Exercise Science, and who was inexperienced. Rosenhaus should have steered Terrell away from Rubin, not toward him."

Other allegations in the lawsuit, according to Yahoo!, include Owens belief that the Rosenhaus brothers and Rubin had a "mutual, reciprocal referral relationship and not because of Rubin's merit as a financial advisor or an investment adviser."

This isn't the first time Owens has made headlines for something involving money. In February the IRS filed a $430,000 tax lien against Owens, a lien the former NFL receiver eventually paid off in June.

 
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