Spurs' Tim Duncan says ex-financial adviser cost him millions

Duncan wants investment returned to him

San Antonio Spurs forward Tim Duncan attends a news conference after he received the 2014-15 Twyman-Stokes Teammate of the Year NBA Basketball Award at the team's practice facility, Wednesday, Aug. 19, 2015, in San Antonio. (AP Photo/Eric Gay)

SAN ANTONIO - San Antonio Spurs star Tim Duncan has filed another lawsuit against a former financial adviser who Duncan contends has cost him millions of dollars in lost investments.

The lawsuit filed last week claims Charles Banks of Atlanta urged Duncan to invest $1.1 million in a cosmetics company that Banks said was profitable when it was actually about to become bankrupt.

A local media outlet reports Duncan wants his investment returned to him and is pursuing punitive damages against Banks.

Banks previously has denied the allegations.

The NBA star filed an initial lawsuit in January that contends a series of investments enriched Banks but ultimately caused Duncan more than $25 million in losses.

Duncan has said the losses came to light during a review of finances as part of his earlier divorce.

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