Prim Capital Corp. founder Joseph Lombardo, whose firm helped manage as much as $250 million for the National Basketball Players Association, pleaded guilty to trying to defraud the organization of $3 million.
Derek Fisher, president of the National Basketball Players Association, and the union asked a judge to toss Billy Hunter’s lawsuit alleging they engaged in secret negotiations with team owners to end the 2011 lockout.
Former National Basketball Players Association Executive Director Billy Hunter sued the union, its president and his publicist, alleging that they engaged in secret negotiations with team owners to end the 2011 lockout.
The National Basketball Association’s description of its salary cap proposal as a flexible plan is “a total distortion of reality,” said players union President Derek Fisher, who also rejected the idea that owners and players are business partners.
The U.S. government is giving National Basketball Players Association President Derek Fisher what his fellow union officials wouldn’t: a closer examination of the organization’s finances and business practices.
The National Basketball Players Association, whose business practices are being questioned by President Derek Fisher, paid almost $4.8 million to Executive Director Billy Hunter’s family members and their professional firms since 2001, according to public records.
The National Basketball Players Association, already in turmoil after President Derek Fisher asked for independent reviews of its finances and business practices, is being investigated by the U.S. Attorney’s Office in Manhattan, the union said in a statement.