NBA star Carmelo Anthony slams former financial consultant with suit to recoup $2 million

California adviser Larry W. Harmon allegedly transferred $1.75 million of the all-star's assets without approval, according to the suit

Aug 19, 2009 @ 3:07 pm

By Jeff Benjamin and Sue Asci

Denver Nuggets basketball star Carmelo Anthony filed a lawsuit in federal court in Sacramento, Calif., this week alleging that his former financial and business adviser transferred more than $2 million from his accounts without his knowledge or consent.

The complaint, filed against Mr. Harmon and employees associated with his company — which describes itself as a “full service tax, accounting and financial services firm” on its website — alleged that they transferred $1.75 million of Mr. Anthony's money last year to a firm with which Mr. Harmon was affiliated.

The complaint also alleged the defendants invested an additional $265,000 with other third parties between 2005 and 2008, also without Mr. Anthony's knowledge.

Also, the complaint charged the defendants with billing and collecting accounting and management fees that they did not earn.

Earlier this year, Mr. Anthony fired Mr. Harmon and hired a new business manager and consultant.

The complaint also alleged that Mr. Harmon and associates turned over books and records to the new manager that were incomplete and incorrect.

Mr. Anthony is seeking $2 million plus punitive damages.

“Over the past few years, it has become increasingly prevalent for fiduciaries to view their clients as ‘prey,' said Robert Hirsh of Robert Hirsh & Associates of Beverly Hills, Calif., who is representing Mr. Anthony.

Mr. Harmon was not immediately available for comment when contacted at his Roseville, Calif.-based firm.

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