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Headline Sports Law

Latrell Sprewell’s Former Agent Settles Multi-Million Dollar Fraud Lawsuit

Latrell Spreewell's former agent settled a lawsuit brought by the SEC. Photo Credit: Elsa/Getty Images.
Latrell Spreewell's former agent settled a lawsuit brought by the SEC. Photo Credit: Elsa/Getty Images.
Latrell Sprewell’s former agent settled a lawsuit brought by the SEC. Photo Credit: Elsa/Getty Images.

At one point in his life, Robert Gist served as NBA player Latrell Sprewell’s agent and attorney.  He advised Speewell when apparel company And 1 offered the NBA player a role as endorser of the brand’s products.  At first, Gist steered Sprewell away from the deal.  Later, he would be by Sprewell’s side when the deal was signed.

Today, Gist leads a different life.  His current life includes avoiding costly litigation.  Specifically, a lawsuit filed by the Securities and Exchange Commission against Gist, which alleged that the lawyer/agent defrauded over 30 investors out of more than $5 million.  That lawsuit has now been settled.

It is yet one more example of just how bad of an idea it is for an agent to get involved in the financial affairs of his clients.  The allegations in the former lawsuit were that Gist promised athletes that he could make conservative investments for them.  The first problem was that Gist was not licensed to sell securities.  The more glaring issue was that Gist supposedly applied the funds he received to pay off his personal expenses and to support other business ventures.

By Darren Heitner

Darren Adam Heitner, Esq., is a preeminent sports attorney and the founder of Heitner Legal, P.L.L.C., a Fort Lauderdale-based law firm specializing in sports law, contract negotiations, intellectual property, and arbitration. He earned his Juris Doctor from the University of Florida Levin College of Law in 2010 and a Bachelor of Arts in Political Science, magna cum laude, from the University of Florida in 2007, where he was named Valedictorian of the College of Liberal Arts and Sciences. Admitted to practice in the state bars of Florida, New York, and the District of Columbia, as well as multiple federal courts, Darren also serves as a certified arbitrator with the American Arbitration Association.

As an adjunct professor, Darren imparts his expertise through teaching Sports Law at the University of Florida Levin College of Law and Name, Image, and Likeness (NIL) at the University of Miami School of Law in the Entertainment, Arts, and Sports Law LL.M. program. His scholarly contributions include authoring several books published by the American Bar Association, such as How to Play the Game: What Every Sports Attorney Needs to Know, and numerous articles in prominent publications like Forbes, Inc. Magazine, and Above the Law. His thought leadership in NIL has earned him recognition as one of the foremost experts by The Wall Street Journal, USA TODAY, and On3, and he has been lauded as a “power player in NIL deals” by Action Network and a “top sports trademark attorney” by Sportico.

Darren’s passion for sports law led him to establish Sports Agent Blog on December 31, 2005, initially titled “I Want To Be A Sports Agent.” The platform, created as a New Year’s resolution, has grown into a cornerstone of the sports agency community, offering in-depth analysis of industry trends, legal disputes, and agent-player dynamics. His commitment to the field is further evidenced by his representation of numerous athletes and sports agents, as well as his prior role as an Adjunct Professor at Indiana University Bloomington, where he developed and taught a course on Sport Agency Management from 2011 to 2014.

Darren’s contributions have been recognized with prestigious honors, including the University of Florida’s 40 Under 40 Award, the University of Florida Levin College of Law’s Outstanding Young Alumnus Award, and designation as the best lawyer in Fort Lauderdale by Fort Lauderdale Magazine. He remains an active voice in the sports law community, sharing insights through his weekly NIL newsletter and his X posts, engaging a broad audience on legal developments in sports.