Terrell Owens earned tens of millions during his playing career, but now the former NFL star is broke, depressed, and lonely. According to Owens, his financial ruin was the result of gross mismanagement at the hands of one-time financial advisor Jeff Rubin, who is currently entangled in a web of drug-related and white-collar crime.
Rubin was once the CEO of Center Stage, an entertainment venue near Dothan, Alabama. Owens says that Rubin convinced him to invest $2 million into the project, in addition to several millions in real estate ventures prior to the 2008 recession. Center Stage offered live bingo, and Owens’ investment was in violation of the NFL’s gambling restrictions.
Center Stage filed for bankruptcy in January, mere months after Rubin and fellow Center Stage exec Mike Kneuer were arrested on drug-related charges. After a Center Stage employee went to the police with accusations that she had been raped, police searched Rubin’s and Kneuer’s hotel rooms, discovering marijuana, Xanax, and GHB, a drug frequently associated with date rape. The pair have been charged with possession of marijuana; a spokesman said that investigations into the other allegations are ongoing.
Neither Rubin nor Kneuer retained their positions with Center Stage.
Owens was not the only pro athlete to accuse Rubin of wrongdoing. Roscoe Parrish of the Buffalo Bills sued Rubin, in part over a $400,000 investment in Center Stage. A judgment awarded Parrish $15,000. In addition, Owens and running back Clinton Portis sued a Florida law firm that helped to arrange their investments in Center Stage.
Rubin’s attorney does not believe Rubin will be charged with a sex crime, and she contends that the athletes were aware of the risks when they agreed to invest in Center Stage, pointing out that their commitments were a fraction of their total net worth.
The Miami New Times report can be found here.