Former Chicago Bulls and Croatian national team basketball legend Toni Kukoc is suing EFG International for $11 million, alleging fraud in a hotel deal gone bad.
Former basketball player and three-time NBA champion with the Chicago Bulls Toni Kukoc is suing Swiss bank EFG International alleging Banca della Svizzera Italiana (BSI) of colluding with his financial advisor to embezzle $11 million, according to a «Basket News» report.
The advisor Paolo Banfi worked with Kukoc starting in 1991 and is said to have had no issues until another personal banker, Paolo Zola, came onto the scene in 2004. BSI had been acquired by EFG as part of a multi-year integration.
Forged Documents
The two advisors allegedly colluded to take funds from Kukoc's account and it is further alleged that his signature was forged for a hotel mortgage in the canton of Graubuenden. According to the lawsuit, «the mortgage documents purport to show that Kukoc signed some of the mortgage documents in Lugano, Switzerland, in December 2006.» The problem, «however, Kukoc was not in Lugano, Switzerland, at this time, and never signed the documents,» the report said.
From 2004 to 2007, the two advisors are accused of authorizing some 300 transactions amounting to the $11 million amount Kukoc is seeking. Of the total, $7.5 million is accounted for by the hotel mortgage in the lawsuit, which also alleges aiding and abetting civil theft, breach of fiduciary duty, and breach of contract.
The report goes on to say that Kukoc has tried seeking restitution in Swiss courts without success. Also that EFG has refused to comment on the case.
Kukoc looks like one Bull that doesn't want to be grabbed by the horns.
