Two professional athletes scored in bankruptcy court this week when a judge allowed them to continue chasing after their former financial adviser, a man they’ve accused of cheating them out of money, the Wall Street Journal reported today. Bankruptcy Judge Christopher B. Latham lifted the shield of bankruptcy that was protecting financial adviser Bill Clay Crafton Jr. from the arbitration proceedings that two of his former clients—retired NFL player Aaron Shea and current Philadelphia Phillies pitcher Cole Hamels—launched last year. The athletes say that they trusted Crafton to invest their funds wisely but claim he was instead reckless with their money, violating state and federal securities laws in the process and committing fraud. Crafton has sought to defend himself against the allegations, which other pro athletes have also brought. Crafton has blamed his bankruptcy filing on the “onslaught” of litigation he’s faced in recent months.
