Malik Beasley faces financial problems and a federal investigation
NBA player Malik Beasley is at the center of controversy, facing a federal investigation related to gambling and financial issues, according to reports. A lawsuit filed by his former marketing agency, Hazan Sports Management Group, reveals that Beasley had “financial problems” and was unable to return a $650,000 advance. The agency is seeking $2.25 million in damages and legal fees for breach of contract.Beasley terminated the agreement with Hazan Sports on February 27. The agency tried to recover the advance, but only received sporadic payments and vague promises. On June 11, a lawyer for Hazan Sports requested an extension to negotiate a settlement, depending on Beasley’s financial liquidity, related to the NBA free agency period. Beasley, a free agent, had a standout season with the Detroit Pistons and was in talks with the team for a three-year, $42 million contract. However, negotiations have been suspended. Beasley has earned almost $60 million during his NBA career. Federal investigation into gambling is being led by the U.S. Attorney’s Office for the Eastern District of New York. Beasley has not been charged with any crime. The gambling allegations date back to the 2023-24 season, when he played for the Milwaukee Bucks.The firm decided to take a chance and invest a substantial amount of time, effort, and resources in a player with known problems (including and especially financial problems).
Hazan Sports Lawyer
Beasley is the third NBA player investigated by the Eastern District of New York in the last 18 months. Jontay Porter, former Toronto Raptors player, pleaded guilty to wire fraud and conspiracy in connection with a betting scandal. Terry Rozier, Miami Heat point guard, is also under investigation for suspicious betting patterns.An investigation is not an accusation. Malik has the same right to the presumption of innocence as anyone else under the United States Constitution. He has not been charged with anything so far.
Steve Haney, Representative of Beasley
