5 p.m., Aug. 25
Pro basketball player says San Diegan put him in Ponzi schemes.
Longtime San Diego money manager William "Billy" Crafton Jr. is among those sued in Philadelphia for putting Boston Celtics guard Jason Terry in dubious investments, some of which were Ponzi schemes. According to Courthouse News Service, Terry says that Crafton assured him he had 20 years of experience handling investments for athletes. The player says he wanted conservative investments, but Crafton put him in risky paper; the player suspects Crafton had kickback schemes with promoters of the dubious investments. Terry says he lost $2.4 million.
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