Allen Iverson has had an extremely successful NBA career, making a whopping $154,494,445. However, reports have surfaced which suggest Iverson has blown through a whopping $150 million, making him nearly broke. Well, "rich people broke."
Iverson had his assets frozen by a Georgia judge, because he failed to pay a $375,000 jewelry bill dating back to 2010. When this news broke many were speculating about Iverson's finances, or lack thereof.
Reporter Bill Lyon recently wrote a piece, where he gave insight on Iverson's spending habits, and falling into a trap similar to MC Hammer's. Lyon says Iverson employed all the underprivileged people from his hometown, and then was paying extravagant costs to outfit them in jewelry and fly them around in private planes. However, all of these extra costs seem to have landed Iverson in the hole.