Ex-NFL Running Back Clinton Portis Says He Nearly Killed His Advisor
Bilked out of a portion of the $43.5 million he earned as a star running back in the NFL, Clinton Portis seriously considered murdering one of the financial advisors responsible for recommending bogus investments, according to .
Several times in 2013, Portis drove to an office in Washington D.C. where one of his advisors worked and sat outside in his car with a gun, SI said.
“It wasn’t no beat up,” Portis told the publication. “It was kill.”
Portis, who spent time with the Washington Redskins and Denver Broncos before retiring in 2010, was ultimately convinced by a friend over the phone not to carry out the murder, according to the profile.
The article does not name the advisor but says that through a series of referrals Portis got involved with a group of shady money managers, including two with ties to Stratton Oakmont, the Long Island boiler room operation on which the movie The Wolf of Wall Street is based.
As his NFL career began to take off, Portis was introduced by a former teammate to a financial advisor named Jeff Rubin, according to the report. He also worked with Jinesh Brahmbhatt, a financial adviser who started at Stratton Oakmont. Both Rubin and Brahmbhatt were registered advisors with the NFL Players Association and quickly gained Portis’ trust, according to the article.
“They come impressive,” Portis said, according to the report. “The complication begins because you don’t understand it. You don’t know what they’re saying, but you just get involved.”
Based on Rubin’s advice, Portis, along with a number of other professional athletes, dumped $1 million into a casino in Alabama, which was shuttered by local authorities for operating illegally, according to lawsuit filed by Portis. Portis wasn’t alone – the failed casino cost 35 players up to $43.6 million, according to filings with the Florida Secretary of State and bankruptcy documents.
Rubin also withdrew $3.1 million from Portis’ accounts without his knowledge, according to the Sports Illustrated story.
Brahmbhatt, meanwhile, advised Portis and other NFL players to invest with Success Trade Securities, a Washington, D.C.-based company run by Fuad Ahmed, another Stratton Oakmont alum. The company was expelled by the Financial Industry Regulatory Authority, and Ahmed was suspended for selling fraudulent securities and operating a Ponzi scheme. About $14 million of the athletes’ investments dwindled to nothing.
Portis would not tell SI exactly how much money he lost in total, but his 2015 bankruptcy filing included as assets a $1 million note from Ahmed’s firm and “potential” claims of $2 million and $8 million against Brahmbhatt’s and Rubin’s firms, respectively.
Rubin and Brahmbhatt have both been barred from the industry by regulators.