3 days ago
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Dallas Cowboys legend Emmitt Smith has been caught up in an investment scam after claiming he and a business partner were defrauded out of at least half a million dollars, according to reports.
The iconic running back, who won three Super Bowls during his 13-year stint in Dallas, alleged in a lawsuit filed in Dallas County Court back in December 2024 that he and co-plaintiff Mark Page were directed to invest $500k in Traders Domain FX, which is being sued by the US Commodity Futures Trading Commission, as part of a Ponzi scheme - a fraudulent investment operation where profits are paid to earlier investors with their funds.
According to the Dallas Morning News, the pair have accused Johnny Wimbrey, a former associate and close family friend of Smith, of helping facilitate the investment along with others, all of whom they claim participated in fraud, unjust enrichment and conspiracy among other allegations. Smith and Page are seeking no less than $500k, legal fees and other damages.
Wimbrey, an author and speaker who touts endorsements from Smith on his website among others, has denied the allegations in court filings and is even requesting the right to countersue the ex-Cowboys star, as per TMZ.
He has filed to amend a previously dismissed lawsuit against Smith over the dispute, which goes back to 2022, after claiming that he was the one responsible for the financial losses.
Cowboys legend Emmitt Smith claims he and a business partner were scammed out of $500k
The iconic running back has accused a former associate of defrauding them out of the money
Author and speaker Johnny Wimbrey, the ex-associate in question who is said to be a close family friend of Smith, is reportedly requesting to file a countersuit
In his proposed countersuit, Wimbrey alleges that Smith 'misrepresented to third parties that he had authority to act on behalf of Wimbrey and to use Wimbrey's name and reputation in connection with soliciting or pooling investments,' TMZ claims.
'These unauthorized syndications created liability exposure for Wimbrey, damaged his reputation, and wrongfully tied him to transactions and representations he did not authorize,' the countersuit adds.
Wimbrey also claims he has suffered 'reputational damage, incurred legal expenses and sustained other financial losses' as a result. He is believed to be asking for unspecified damages in the countersuit.
Smith and Page allege that Wimbrey and others solicited and/or accepted funds from individuals under false promises for trading 'leveraged or margined retail foreign currency exchange' and similar gold US dollar pair transactions.
According to their lawsuit, the funds were not used for those trades and were instead funneled to separate bank accounts controlled by two of the defendants and misappropriated for other purposes.
DailyMail.com has reached out to Emmitt Smith and Johnny Wimbrey for comment.
