Excesses and the millionaire scam of the “black widow” of sport: how Dennis Rodman lost his fortune

In his successful and hectic career in NBA, Dennis Rodman he collected five championship rings, led the rebounding statistics for seven years and was part of the legendary dynasty of the Chicago Bulls, along with Michael Jordan and Scottie Pippen, reflected in the box office documentary series The Last Dance. Just from your income as a basketball player, raised about $ 27 million. However, in 2012, his legal advisors declared that he was “bankrupt.”

How does a money maker like The worm, who ventured as an actor in the cinema, who received hundreds of thousands of dollars for presences, who took his figure outside the borders of the United States, saw his bank account empty to the point of not being able to pay child support?

It must be accepted that Rodman was not precisely ordered with his finances. The waste, the parties, 19 years of ups and downs in his drug addiction (his last hospitalization to be treated dates from 2017), the massive trips (such as the express vacation to Las Vegas in the middle of the last season of the Chicago Bulls dynasty, portrayed in the documentary series) undermined his heritage. Too fines during his career: the highest reached the sum of $ 200,000.

Their divorces and the corresponding agreements must also be annexed: in 1999, after just one year of formal relationship, with Carmen Electra; and in 2004, with Michelle Moyer, with whom she has two children.

However, even after retired, he was able to generate $ 1,000,000 a year from presences at events, or even serving as a DJ on records. But he gave the management of his fortune to the baptized “Black widow” of athletes. And he saw how, years later, the money he produced faded.

It was called Peggy Ann Fulford. OR Peggy Ann King, when she took her husband’s last name at its peak. But he had several more names, according to his convenience. Actually was born as Peggy Ann Barard, in 1958. In 2000, a mutual friend introduced him to the Worm, and a society began to be founded.

The scrolls that Peggy Ann claimed to hold seduced even a figure like Rodman. He claimed to have an engineering degree from Georgia Tech and to have attended Harvard Business School. Having a client portfolio of more than 30 athletes, in addition to doctors, lawyers and an aerospace engineer, who he financially advised. He claimed to work with names like basketball players Jermaine O’Neal and Shawn Marion, actor Cuba Gooding Jr. and American football star Marvin Jones.

Over time, when she fell out of favor, they all denied the relationship. Diplomas were also found to be drawn paper. But The worm She believed in Peggy Ann, in her husband, in King Management Group. “Building generational wealth” was the slogan. Other NBA figures, such as Travis Best and Rashad McCants, also followed the siren call; or NFL stars like Lex Hilliard and Ricky Williams.

“She could make anyone feel like a million dollars,” one of the victims told Sports Ilustrated, in an extensive investigation on the “black widow”. The King’s gained Rodman’s trust. They generated events for him and accompanied him to those; Even Elkin King was present at some of the encounters with Kim jong-un, the controversial leader of North Korea.

Such was the level of trust that Peggy Ann’s husband He knew how to find Rodman cooking the leftovers in the kitchen of his house at 7 in the morning, recently returned from a long and intense night.Since he knew the security code on the back door of his attorney’s mansion.

With the excuse of protecting him from his financial imbalances, the adviser took control of the pivot wing’s bank accounts and withheld his debit card. The day he entered the NBA Hall of Fame in April 2011, Rodman dedicated part of the speech to him: “Peggy King, Elkin King, these boys, the family, are taking care of me these days. Thank you”.

But the King Management Group’s bizarre dealings began to surface in 2012. One day, Rodman called his attorney Bradford Cohen asking why his electricity had been cut off at the Florida condo where he lived and that Peggy Ann had helped him to buy. Almost simultaneously, discovered that payments had expired on $ 5 million life insurance.

Plus: His ex-wife sued him in Orange County court for racking up $ 800,000 in child support debt. It was there that his legal representatives declared him “bankrupt” and reported that his health was deteriorating.

Maybe the drop that spilled from the glass was when detected heavy spending on Victoria’s Secret. “I was never there,” he assured a friend. Indeed, something was wrong. Peggy Ann had a lot to do with it. Cascading, those harmed by the adviser began to denounce her. According Sports Ilustrated, they detected 85 bank accounts through which he diverted the money, in addition to 20 ghost 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.

The former Detroit Pistons and Chicago Bulls star fired Peggy Ann in a harsh letter, the charges of which the defendant denied: “I’ve been with him through thick and thin.” Rodman, one of the hardest hit by the false adviser, claimed compensation of $ 5.7 million. The judge in the case sent her to prison for ten years and ordered USD 1,243,579 to be returned to the basketball player.

Peggy Ann Fulford, King or Barard was confined to Aliceville Jail, a low-security women’s facility, located four hours north of New Orleans. “I feel like I’ve done things that are wrong. I did not do it maliciously. It was something that just got out of my control, and one lie led to another; one deception, another “, sought redemption.

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