Duncan: Ex-financial adviser cost him millions
SAN ANTONIO — Spurs star Tim Duncan has filed another lawsuit against a former financial adviser he contends has cost him millions of dollars in lost investments.
The lawsuit, filed last week, claims Charles Banks of Atlanta urged Duncan to invest $1.1 million in a cosmetics company that Banks said was profitable when it was actually about to become bankrupt.
The San Antonio Express-News reports Duncan wants his investment returned to him and is pursuing punitive damages against Banks.
Banks previously has denied the allegations.
Duncan filed an initial lawsuit in January that contends a series of investments enriched Banks but ultimately cost Duncan more than $25 million.
Duncan has said the losses came to light during a review of finances as part of his earlier divorce.
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