NEWARK (CN) - Two-time Super Bowl champ Jim Burt claims in court that an investment group "essentially stole" $2 million from him, "promising him great financial rewards but instead provided him nothing but financial ruin."
Burt sued Key Trading, a Delaware LLC, and six individuals, in Federal Court.
He claims they "took advantage of his naiveté by promising him great financial rewards but instead provided him nothing but financial ruin."
Burt joined the New York Giants as an undrafted free agent in 1981, played for 10 years and won Super Bowls with the Giants and San Francisco 49ers. In 1984, he originated the now famous "Gatorade Shower" on coaches after big wins.
Burt says in his complaint that in January 2005 by defendant Peter Larkin, a solicitor and associate for Key Trading, introduced him to co-defendants Rafael DeNoyo and David Sullivan.
The complaint refers to defendants Denoyo, Sullivan and Larkin as "the Denoyo Group." The other three defendants are the men's wives.
In the next year, Burt says, he "wire transferred the aforementioned two million dollars ($2,000,000) based on the Denoyo Group's representations to him that Key Trading had developed a proprietary leveraged trading system and that Burt would be provided monthly returns on what he was told by Key Trading and the Denoyo Group was an 'investment.'"
But Burt says it was all a sham: "The representations made to Burt by the Denoyo Group, individually and/or on behalf of Key Trading, were untrue when made; and the Denoyo Group knew those statements to be untrue at the time they were made to Burt.
"Burt did not benefit from a 'proprietary leveraged trading system' and did not receive a return on the funds that Key Trading and the Denoyo Group took from him.
"In essence, Key Trading and the Denoyo Group stole the $2,000,000 from Burt with no intent of returning any funds to him.
"Burt uncovered the fraud that had been perpetrated against him and, through counsel, demanded restitution."
He claims that Key Trading and the Denoyo Group entered into a written settlement agreement in September 2010 in which they agreed to pay him a total of $1,932,214. They made 15 payments of $4,000 each, then stopped paying him, Burt says.
He wants the money, and damages for breach of contract and breach faith and fair dealing. He also wants an injunction preventing the defendants from removing money from specified bank accounts.
He is represented by Adolfo Anzola, with Silver Law Group, of Coral Springs, Fla.
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