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A lawsuit acquired by the Daily Mail reveals that Alec Bohm, the third baseman for the Philadelphia Phillies, has accused his parents of using limited liability companies to siphon off millions from his financial accounts for their personal use.
The complaint states, “Although Alec’s investigation into the status of his assets is ongoing and far from complete, his preliminary findings suggest that [his parents] Daniel and Lisa misappropriated a substantial amount of money from him,” as per the legal documents.
Alec alleges that his parents attempted to exclude him from four LLCs by transferring a significant portion of his earnings into accounts for their benefit. The 29-year-old athlete is pursuing at least $1 million in damages, along with interest, penalties, legal fees, and any other relief deemed appropriate by the court.
The lawsuit, which was filed in Pennsylvania and initially reported by the Philadelphia Inquirer, claims that Daniel and Lisa Bohm established two LLCs in 2019 to manage their son’s burgeoning finances. They reportedly assured Alec that their 10-percent ownership stake was necessary for administration purposes, but emphasized that he retained ownership of all assets and funds, according to the court filings.
The legal document further details that “Daniel and Lisa consistently assured Alec that their actions on his behalf were performed as his parents, whose assistance was always provided free of charge.”
Alec’s parents also launched a foundation in his name, but according to the lawsuit, both the LLCs and the charity were used by Daniel and Lisa for their own financial purposes.
The parents of Phillies third baseman Alec Bohm used limited liability companies to funnel millions of dollars out of his financial accounts for their own use, according to a lawsuit
Lisa and Daniel Bohm are accused of misappropriating their son’s financial assetsÂ
‘With each transfer, Daniel and Lisa evidently grew bolder,’ read the complaint.
They even launched LLCs to control his personal residence, and again, took a 10-percent stake, insisting it was required for them to manage the property, the lawsuit claims.
But in January, when Alec asked his parents for information on the various holdings, Daniel and Lisa allegedly refused.
‘Daniel and Lisa, however, refused to provide any of the limited documentation that Alec sought, which included, for example, electronic login information, account statements, tax instruments, and other readily accessible documentation,’ read the lawsuit.
Instead, Daniel and Lisa engaged legal counsel, who ‘produced limited information to feign cooperation,’ the lawsuit continued.
And soon thereafter, Alec was informed by his parents’ attorney that they intended to submit invoices for all the money they believed they were owed for managing his assets.
‘In other words, Daniel and Lisa not only deceived Alec through their misrepresentations about the reason for their interests in [the LLCs], but also, Daniel and Lisa now claim that they possess equity rights and are due compensation for ‘services’ they provided in connection with the operations of [the LLCs],’ read the lawsuit.
Philadelphia Phillies third baseman Alec Bohm is in a relationship with ESPN’s Erin Dolan
Bohm’s parents denied wrongdoing in a statement through their attorneys.
‘Mr. and Mrs. Bohm love their son very much and have always acted in his best interests, both personally and professionally and still do so to this day,’ Robert Eckard, the pair’s attorney, told the Inquirer. ‘They are deeply saddened by the allegations made against them in this lawsuit and the sensational false narrative painted here, which they believe are entirely without merit.’
The Daily Mail has also sought comment from Alec’s attorney.
The third pick of the 2018 MLB Draft, Bohm is on a one-year, $10 million deal, but will become an unrestricted free agent after the season, when he could be up for a considerable raise.
Alec is also reportedly dating ESPN host Erin Dolan. Â