The parents of Philadelphia 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 obtained by the Daily Mail.
‘Though Alec’s investigation into the status of his assets remains on-going and is far from complete, an initial investigation leads Alec to believe and, therefore, aver that [his parents] Daniel and Lisa misappropriated a very large sum of money from Alec,’ read the complaint.
The 29-year-old slugger is seeking at least $1 million as well as interest, penalties, costs, attorneys’ fees and anything else the court deems appropriate.
Filed in Pennsylvania and first reported by the Philadelphia Inquirer, the lawsuit claims Daniel and Lisa Bohm set up two LLCs for their baseball star son in 2019 so they could manage his growing assets. Alec’s parents told him they would need to hold a 10-percent stake in the LLCs in order to administer his funds, but insisted he still ‘owned all the assets, funds, and anything else,’ according to the filing.
‘Daniel and Lisa repeatedly advised Alec that, whenever they acted on his behalf, they did so as Alec’s parents — whose assistance always came free of charge,’ the lawsuit continued.
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 assets
‘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.
