Ronaldo, Mike Tyson, Usain Bolt headline 10 richest athletes who have been scammed

One can be rich or blessed with fame, but few industries allow so many to enjoy both privileges at scale. Sports is one of those rare sectors. However, where there is big money and immense public attention, predators inevitably follow.

Athletes dedicate their entire lives to perfecting their craft on the pitch, court, or field, often leaving their sprawling financial empires in the hands of agents, family members and wealth managers. 

That third-party reliance frequently opens the door for staggering financial exploitation, which has made far too many sports stars lucrative targets for both those inside their inner circles and scheming outsiders.

The latest victim is Kansas City Chiefs tight end Travis Kelce, whose entanglement in a multimillion-dollar Ponzi scheme has thrust the dark side of athlete wealth management back into the spotlight.

In the wake of that revelation, it is time to examine the wildest financial betrayals in sports history. Here are 10 of the best:

The Kansas City Chiefs tight end, who secured Super Bowl LIV (2019 season), Super Bowl LVII (2022 season), and Super Bowl LVIII (2023 season) titles with the franchise, was formally identified in federal court as a victim of a $35 million Ponzi scheme in September 2026. 

Investment operator Siddharth Jawahar ran the Texas-based scheme through his company, Swiftarc Capital LLC. Jawahar secretly funnelled a percentage of client funds into a single failing overseas stock, Philip Morris Pakistan, while using the rest to fund private jets and luxury travel. 

While Kelce’s exact financial loss has not been publicly disclosed, Jawahar pleaded guilty to wire fraud and was sentenced to 11 years in federal prison, alongside a $31.35 million restitution order.

The Los Angeles Dodgers designated hitter became the centre of an international media frenzy when it was revealed his long-time Japanese interpreter, Ippei Mizuhara, stole nearly $17 million from his bank account. 

Mizuhara exploited Ohtani’s vulnerability as a non-English speaker, altering bank account contact details to siphon funds to pay off debts to an illegal Southern California sports bookmaker between November 2021 and January 2024. 

Mizuhara also used the stolen money to buy $325,000 worth of baseball cards and pay his personal dental bills. Mizuhara pleaded guilty to bank and tax fraud and was sentenced to four years and nine months in federal prison.

The five-time Ballon d’Or winner was defrauded of €288,000 (£245,770) by a travel agent over a three-year period. 

Between February 2007 and July 2010, spanning his time winning the 2007/08 Premier League and 2007/08 UEFA Champions League with Manchester United before his move to Real Madrid, Ronaldo entrusted Maria Silva with his virtual credit card and PIN codes. 

Silva billed the Portuguese star for roughly 200 luxury trips he never took to destinations like Milan, Paris, and Sao Paulo, funnelling the cash into her private accounts. She was handed a four-year suspended prison sentence in 2017 following a full confession.

The six-time NBA champion, who secured titles with the Chicago Bulls in 1991, 1992, 1993, 1996, 1997, and 1998, fell victim to a massive fraud orchestrated by his financial advisor, Robert J. Lunn. 

Pippen invested roughly $20 million with Lunn, who was later exposed for running a complex bank fraud scheme. 

In September 2002, Lunn forged Pippen’s signature to secure a $1.4 million unsecured bank loan, falsely claiming the funds were for Pippen to purchase an airplane. Lunn used the fraudulently obtained cash to pay off his own debts and was sentenced to three years in federal prison in 2016, with the court ordering him to pay $400,000 in restitution directly to Pippen.

The six-time NBA champion, who won the 1970/71 title with the Milwaukee Bucks before adding five championships with the Los Angeles Lakers, filed a $59 million lawsuit against his former business manager, Tom Collins. 

Abdul-Jabbar accused Collins of severe fund mismanagement, negligence, and fraud. Collins mismanaged investments to the point of generating seven-figure losses, nearly wiping out Abdul-Jabbar’s entire fortune in the 1980s. 

The 2007/08 NBA champion with the Boston Celtics filed a federal lawsuit against his former accountant, Michael Wertheim, in 2018. 

Garnett alleged that Wertheim turned a blind eye while wealth manager Charles Banks IV systematically stole $77 million from his accounts. 

According to the lawsuit, Wertheim accessed Garnett’s funds by acting as a registered agent for the player’s business interests, adding his own name to bank accounts, and ignoring the rampant theft. 

The $77 million loss stands as one of the largest single financial frauds perpetrated against an individual athlete in American sports history.

The five-time NBA champion, who secured titles with the San Antonio Spurs in 1999, 2003, 2005, 2007, and 2014, was defrauded by the same wealth manager who targeted Garnett. 

Charles Banks IV encouraged Duncan to invest in a Colorado-based sports merchandising company, initiating a string of fraudulent wire transfers. 

The court determined that Banks defrauded the legendary power forward and ordered restitution of $7.5 million, though civil suits estimated Duncan’s total losses across various investments exceeded $20 million, according to Investor Claims. Banks pleaded guilty to wire fraud and was sentenced to four years in federal prison in 2017.

The legendary Denver Broncos quarterback, who secured back-to-back Super Bowl XXXII (1997 season) and Super Bowl XXXIII (1998 season) championships, was caught in a $71 million Ponzi scheme. 

Elway and a business partner handed over $15 million in March 2010 to hedge fund manager Sean Michael Mueller, who promised significant returns. 

Mueller instead used the capital from 65 investors to pay off earlier clients while generating fake monthly brokerage statements. Mueller pleaded guilty to theft and securities fraud in November 2010 and was sentenced to 40 years behind bars.

The former undisputed heavyweight boxing champion sued his long-time promoter, Don King, in 1998 for $100 million. 

Tyson alleged that King systematically cheated him out of tens of millions of dollars following his 1995 release from prison.

The lawsuit claimed King surrounded Tyson with puppet accountants and siphoned massive chunks of fight purses to pay his own family members disguised as consulting fees, including over $1.5 million directed to King’s wife. 

Tyson dropped the lawsuit in 2004 in exchange for a $14 million settlement, the entirety of which went directly to the Internal Revenue Service and creditors to cover his debts.

The Jamaican track and field legend, who won eight Olympic gold medals across the 2008, 2012, and 2016 games, saw his retirement fund decimated by a sophisticated investment fraud in January 2023. 

Bolt’s legal team revealed that $12.7 million inexplicably vanished from his account at the Kingston-based private wealth management firm Stocks and Securities Limited (SSL). 

The theft left the world’s fastest man with an account balance of just $12,000. The Financial Services Commission placed the firm under enhanced oversight following the discovery of the fraud, which impacted several high-profile clients in the Caribbean.