Dennis Rodman He is considered one of the most controversial figures in the modern NBA. With his performance as a star of the Chicago Bulls, his talent and several contracts with different companies, he managed to gather 27 million dollarsbut lost everything when He let a person into his life who bankrupted him.
It is about Peggy Ann Fulfordor Peggy Ann King when she took her husband’s last name. This woman managed to seduce several NBA players by claiming that she had an engineering degree from Georgia Tech and that she attended Harvard to study business. He had more than 30 athletes as clients, as well as doctors, lawyers and an aerospace engineer, whom he advised financially.
Dennis Rodman’s career
Rodman came to have five rings for being champion of the seasonhad two selections for the All Star Game, two titles as best defender in the NBA and led the rebounding statistics for seven years. When he started his career he had a salary of US$160,000 during his season in Detroit, but his best contract came in the mid-90s, when he was paid 9 million dollars in Chicago. This is his most notable season because he played with figures like Michael Jordan.
However, the player was not very careful with his money. He had fines of up to 200 thousand dollarswas in and out of drug rehab multiple times over 19 years, spent money on parties, trips, and had two divorce settlements. But despite all this, he was still able to generate a million dollars annually by attending events.
The scam that Dennis Rodman suffered
The problems began when Peggy Ann and her husband, Elkin King, arrived. Together with Rodman they forged a working relationship with such trust that the player He considered her part of his family. and he completely trusted her to take care of his monetary affairs. He even made a special mention of him in his speech when he entered the NBA Hall of Fame.
With the excuse of protecting him from his financial excesses, the advisor took control of the bank accounts and withheld his debit card. However, the suspicious dealings of Peggy Ann’s company, King Management Groupbegan seeing each other in 2012, when the power unexpectedly went out to one of Dennis Rodman’s condominiums. When he called his lawyer, Bradford Cohen, to find out what happened, he discovered that payments were due on a $5 million life insurance policy.
On the other hand, his ex-wife reported him to the Orange County court forrack up $800,000 in child support debt. Some time later his legal representatives declared him “bankrupt.” But what ended up breaking everything was when he found a huge expense on Victoria’s Secret products, so he began to suspect his right hand. At that time he found out that the same thing had happened to other people and they decided to report Peggy Ann.
Over time they detected 85 bank accounts with which he diverted the money, in addition to 20 shell corporations registered in different states, many with names associated with the Worm: Dennis Rodman Group LLC, Dennis Rodman Group & Associates LLC and Dennis Rodman Inc. That was when he finally fired Peggy Ann King.
What happened to Dennis Rodman and the “black widow”
Currently, it is estimated that the player does not have more than 500 thousand dollars nowadays. On the other hand, when he kicked Peggy Ann out, she claimed compensation of 5.7 million dollars. But instead, the judge in the case found her guilty and sentenced her to 10 years in prison and the restitution of U$D1,243,579 to Dennis Rodman. She was imprisoned in Aliceville Prison, a low-security facility for women, but She was released before serving her full sentence..
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
