Legal News

Florida Broker Who Used to Advice NFL Players Barred by FINRA
Download PDF

On Thursday, Jeffrey Rubin, a Florida broker accused of enticing more than 30 professional U.S. football players into investing a total $40 million in a now-bankrupt casino, agreed to be permanently barred from the securities industry. He used to operate the Pro Sports Financial Inc in Fort Lauderdale.

In the settlement with FINRA, Rubin neither denied nor admitted the allegations brought against him by the securities industry watchdog.

The casino, in which Rubin made the NFL stars invest their money is still operating, but in 2011, changed its name from Country Crossing to Center Stage. Rubin used to provide financial advice and related services to NFL players who were his clients for an annual fee.

  
What
Where


One NFL player, Samari Rolle, allegedly lost at least $3.2 million due to “unsuitable recommendations” made by Rubin, though Rubin has not admitted the allegations. Almost 31 NFL players are supposed to have lost money on Rubin’s advice.

Rubin’s former clients include players like Plaxico Burress of New York Giants, Clinton Portis of Washington Redskins, Santonio Holmes who is still with Jets, Santana Moss from Redskins, Fred Taylor, a former back of the New England Patriots, Jevon Kearse who used to be with the Tennessee Titans, and Kyle Orton, who played for Denver Broncos.

While FINRA did not fine Rubin or seek any payment, some of his clients are taking individual legal actions.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Rolle had filed an arbitration claim against Rubin in 2011 asking for $5 million in compensatory damages. He later settled with Rubin commenting that Rubin’s financial advice “created a situation in which millions of dollars are unaccounted for and inaccessible.”

Another player, Owens, who last played the NFL in 2010, is suing Rubin over several claims including the risky investments associated with the casino project.





 

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Attorney with 3-7 years of litigation experience

USA-IL-Chicago

Chicago office of our client seeks attorney with 3-7 years of litigation experience. The candidate s...

Apply Now

Defense Attorney with 3-4 years of litigation experience

USA-CA-San Francisco

San Francisco office of our client seeks defense attorney with 3-4 years of solid litigation experie...

Apply Now

Mid-level IP Litigation Attorney with electrical engineering experience

USA-CA-San Francisco

San Francisco office of our client seeks mid-level intellectual property attorney with 3-5 years of ...

Apply Now

Labor and Employment Attorney with 3-4 years of litigation experience

USA-CA-Los Angeles

Los Angeles office of our client seeks labor and employment attorney with 3-4 years of litigation ex...

Apply Now

RELEVANT JOBS

Associate Attorney

USA-AL-Birmingham

Associate with three (3) to five (5) years of experience to work in its Architects / Engineers ...

Apply now

Associate Attorney

USA-AL-Birmingham

Associate to practice in the firm\'s Employment litigation group.  Three (3) to five (5) years ...

Apply now

Sr. Attorney I

USA-DC-Washington

To be part of the AMA is to be part of our Mission to promote the art and science of medicine and th...

Apply now

Worker's Compensation Paralegal

USA-GA-Savannah

SUMMARY Work client files through the various stages of pre-litigation with an emphasis on client...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top