(EXCLUSIVE) Dwight Freeney Settles Legal Battle Over Ex-Financial Adviser Stealing Millions of His Money

Then last year, Freeney served them both with a federal lawsuit for fraud and unjust enrichment.

He explained that at the height of his career he made the decision to entrust his net worth with Weinberg — despite him not knowing she didn’t have the proper licenses to perform the services she said she could. He says she used her position to defraud him through various schemes.

Freeney says the pair convinced him to take out a expensive whole life insurance policy,  with her brother acting as the insurance agent to get the mega commission. He says they advised him to take out a $55 million life insurance policy which he paid $500K per year over 15 years. He says that they were well aware this was an “entirely unsuitable and inappropriate investments for Mr. Freeney, who was then age 29, single and in a sport where the average player retires by age 32;” — yet they walked away with $450K in commission.

He says the policies lapsed and are worth nothing to him now. Freeney accuses them of knowing he didn’t need the $55 mill policy and they choose because the commission on the policies they offered him had 80-90% commission on the first year of the policy. He also accused them of stealing over 2 million of his money through various schemes

He sued for all the money he paid into the insurance policies and unspecified damages.

Then on March 11th, docs were filed in the case explaining the Freeney has settled his claims against Robert Weinberg and the insurance company. The deal states that Robert Weinberg will pay Freeney a total of $350K and the insurance will write the ex-NFL star a check for $35K.

Per the settlement, once the money has been paid to Freeney he will drop all claims against Robert Weinberg and the insurance company. However, Eva Weinberg has not settled with Freeney and the legal battle against her will continue on.

The agreement also states that Freeney does not allege the insurance co. had any part of the alleged scheme and he does not believe they worked with the Weinberg’s to defraud him out of millions.

See the exclusive court docs.

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