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Allen Iverson Is Not Actually ‘Broke’

Mar 2, 2012, 12:52 PM EDT

We all jumped to conclusions with the jewelry thing and assumed A.I. was broke. That's not exactly the case.

Count us among the many who assumed Allen Iverson was broke when a judge ruled that a jeweler could access A.I.’s bank accounts to get some of the roughly three-quarters of a million in cash owed to him. The New York Post actually went out and investigated Iverson’s financial situation and found out that while he may not be rolling in the dough like he used to, A.I. has plenty of cash tucked away.

 “A person with a firm grip on the situation informs me Iverson has an
account worth $32 million, a principal he is prohibited from touching
until 55. In the meantime, it feeds him $1 million annually.” [NYPost]

So while A.I. will likely have to pack some luggage when he goes on trips later in his life, it can still probably be Louis Vuitton.