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Currently Viewing Posts Tagged Zafar

An Athlete’s Bad Investment

NBA basketball player Mike Miller was considered to be an integral part of the Miami Heat, when they won their two recent championships. NBA: Miami Heat at Golden State Warriors

In the world of Miami Heat basketball and Miller, all seemed right. In fact, the Heat exercised an NBA clause that allowed them to release him this year and still fully pay him while he could go sign with another team. They then received cap space to sign another player. On the surface, both parted on great terms.

However, that really doesn’t tell the full story of what was brewing. This according to the Miami Herald:

Miller, who now plays for the Memphis Grizzlies, lost $1.7 million in a scam allegedly orchestrated by Haider Zafar, a South Beach bling king who presented himself as a member of a wealthy Pakistani family.

According to Miller’s complaint that has been drawn up but not yet filed, a Heat employee introduced Miller to Zafar, and Zafar used $700,000 of the money he stole from Miller to pay for courtside Heat tickets.

Settlement talks between Miller and the Heat have stalled. Miller asked for that $700,000 back from the Heat, plus attorney’s fees, but “the parties were far apart,” Miller’s attorney, Andrew Fine, said.

In the potential lawsuit, Miller is seeking a lot more: the entire $1.7 million that he lost in Zafar’s scam.

The part of the facts most troubling is that the meetings between Zafar and Miller were held at the Heat’s offices. (CBSsports.com) To date, the lawsuit has not been filed but there is some settlement discussion.

Miller’s attorney suggests that he believes that the Heat are fully responsible for this loss from this fraudulent investment. Without the Heat employee introduction, he would not have invested.  He believes that they were only focused on selling their season tickets to Zafar.

Two other Heat players also lost money to this individual.  Currently,  Zafar is being held in custody in an Ohio jail, on an unrelated fraud case.

DID YOU KNOW that the saying, “It’s all fun and games until someone loses an eye” comes from Ancient Rome wrestling. The only rule during wrestling matches was “no eye gouging”. Everything else was fair game!

 For pic o’ day…

witness protection

Real Estate Scam Story

NBA basketball players are known to make big money. That doesn’t mean that they make good investments. The Columbus Dispatch is reporting that players from the Miami Heat were caught in a multi-million dollar real estate scam.

According to recent testimony in an Ohio Federal Court courtroom, witnesses testified that Florida residents invested over 8 million dollars with Haider Zafar. Zafar has been indicted with 135 counts of fraud. The indictment  describes a scheme that he used to swindle money involving a real estate and a promise of amazing profits.

According to testimony, Zafar claimed that his uncle was Pakistan’s defense minister, which gave him the authority to buy and sell property for that country. So, he promised investors like Heat players Mike Miller, Rashard Lewis and James Jones that if they invested in Pakistan properties, they would be guaranteed a profit through his contact.  A simple idea, buy low and sell high… to that government.

Unfortunately for them, he had no relative in government and could not promise a profit. Evidence suggests that he also purchased little or no properties. A story that we will probably soon see on some American Greed episode.

For our DID YOU KNOW, it’s another math puzzler. If you take any number between 1 and 9 and multiply it by 9, then the sum of those two numbers will always equal 9. Here’s an example: 7 muliplied by 9 equals 63.  So… 6 plus 3 = 9.   Another????      3 x 9 = 27. So… 2 plus 7 equals….. 9!

And finally in pic o’ day… some courtroom drama?

courtroom drama

 

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