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Financial Adviser Issues With NHLers
by Paul on 04/26/09 at 08:39 AM ET
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from Terrie Thompson and Michael O’Keeffe of the NY Daily News,
An unlicensed financial adviser who bills himself as a “lifestyle coach” scammed several NHL players out of millions of dollars, according to sources familiar with the case and a lawsuit filed by former NHL star Joe Juneau.
Phillip A. Kenner, an Arizona businessman who described himself as a top-tier financial adviser but who had not been licensed since 2003 to buy or sell regulated securities, once claimed to be a high-powered money manager for Rangers great Mark Messier and the pop group ‘N Sync. Kenner was deposed in the case this past week in Los Angeles. Juneau has accused him of failing to provide even basic accounting information regarding the handling of the former Washington Capitals center’s finances….
Juneau isn’t the only hockey player who says he was defrauded by Kenner: Minnesota Wild right wing Owen Nolan has filed for arbitration in Arizona, claiming he was scammed by the businessman, while Jozef Stumpel, a 16-year NHL veteran who is playing in Russia, filed a federal lawsuit in September 2008 that says Kenner borrowed $2.5 million from him and has not paid back a penny.
Stumpel has since dropped the suit. His lawyer, Jennifer McGrath, declined to comment. A source familiar with the case says Kenner flew to Europe and convinced Stumpel, a native of Slovakia, to drop the legal action because it had damaged Kenner’s ability to pay back the loan.
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