Washington Redskins running back Adrian Peterson is in arbitration with Morgan Stanley over a failed investment, attorney Chase Carlson confirmed.
Carlson, a Miami-based investment fraud attorney, said he cannot discuss details of the case at this time. His clients have included many professional athletes and entertainers.
Peterson, formerly a standout running back with the Minnesota Vikings from 2007 to 2016, played briefly with the New Orleans Saints and the Arizona Cardinals before being signed to a two-year contract worth $5 million with the Redskins in 2018. He has the NFL record for 296 rushing yards in a game.
Peterson has earned more than $100 million on the field during his NFL career.
This most recent financial setback is the latest in a string for the 34-year-old Peterson, who in July was reportedly ordered to pay nearly $2.4 million to a Pennsylvania lending service after he defaulted on a loan worth more than $5 million.
At the time, Carlson issued a tweet, which said “this is yet another situation of an athlete trusting the wrong people and being taken advantage of by those he trusted.”
It also was reported that Peterson borrowed $2.4 million in May 2016 from a Minneapolis-based lender. He allegedly defaulted after just five months and was ordered by a Minnesota court to pay back the remaining balance of about $600,000.
In an e-mail, a spokesperson with Morgan Stanley said, “We are defending against these claims, which we believe are without merit."