"Mo money, more problems" is a well-known rap quote that captures the challenges once faced by former NBA player Toni Kukoc .
In 2022, it was revealed that 'The Waiter' had been scammed out of an astonishing $11 million over several years. After unsuccessfully trying to fight back since 2004, he decided to file a major lawsuit against the Swiss private bank EFG International in September of that year.
Fraud and deception
The former Chicago Bulls star, who won three championship titles alongside Scottie Pippen and Michael Jordan in the 1990s, had reportedly been taken advantage of by several parties — definitely a tough pill to swallow.
Among those identified as the main culprits were Kukoc's former personal financial advisor, Paolo Banfi, and client advisor, Paolo Zola, from Banca della Svizzera Italiana (BSI). 'The Waiter' had been collaborating with Banfi since 1991; according to reports, he had even developed a friendly rapport with him. Zola had been with BSI, the bank based in Lugano, Switzerland, since 2004.
Eventually, BSI was acquired by EFG in a lengthy integration process, which led to the later lawsuit being directed at them. At that time, the private bank opted not to comment on the allegations while the proceedings were still ongoing.
Related: "You can't steal God's country through voter fraud" - When a former NBA player staged a one-man protest ahead of Biden's inauguration
A long fight for justice
In the years leading up to the EFG lawsuit, the 6MOY from 1996 sought to hold Banfi and Zola accountable through different channels.
The initial complaint accused the two of embezzling a substantial amount of money, primarily derived from a mortgage for a hotel project in Lugano, which the retired basketball player allegedly signed in December 2006.
However, 'The Waiter' claimed he was not in Lugano at that time and never signed any documents, leading to suspicions of signature forgery. A similar situation occurred with around 300 transactions between 2004 and 2007, which resulted in Kukoc allegedly losing "millions of dollars that he has been unable to recover through Swiss authorities."
Various media outlets reported that the country's banks have historically had strong connections with local courts, lawmakers, and politicians. This situation could potentially undermine Kukoc's chances of success in his case. While there is no definitive information on the final outcome, the latest reports indicated that the now 56-year-old cannot use Chicago, Illinois, courts to sue the Swiss banks for fraud.
Ultimately, we can only hope that Toni finds justice in the end. During his 13-year NBA career, which also included time with the 76ers, Hawks, and Bucks, the Croatian earned a reported approximately $61.5 million in salary. It would be a significant blow if some of that were to vanish without Toni having spent a dime of it.
Related: Toni Kukoc ended his wedding night early to watch Michael Jordan and Chicago Bulls: "We can party till 3 o'clock"
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