Alec Bohm accuses parents of defrauding him out of $3M

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Phillies third baseman Alec Bohm has accused his parents of defrauding him and is seeking $3 million in damages after filing a lawsuit Wednesday in the Philadelphia Court of Common Pleas.

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The 29-year-old all-star is also seeking an accounting of the funds that his parents, Daniel and Lisa Bohm, allegedly had access to after setting up limited liability companies (LLCs) to help manage his professional baseball player earnings.

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Bohm’s parents denied the allegations in a statement through their lawyer, according to the Philadelphia Inquirer, saying they were “deeply saddened” by the “sensational false narrative painted here, which they believe are entirely without merit.

“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,” attorney Robert Eckard said in the statement, via the Inquirer.

Parents alleged set up LLCs to manage wealth

Bohm, the No. 3 overall pick out of Wichita State in the 2018 MLB draft, said in his lawsuit that his parents set up two LLCs in 2019 to help manage his assets, which included about $17.5 million in salary alone before this season, according to Spotrac.

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He is currently signed to a one-year, $10.2-million deal in addition to those earnings.

While Bohm was allegedly told that he would keep all of the assets and funds linked to the LLCs, according to the Inquirer, his parents allegedly told him they needed to take a 10% interest so they could act as his representatives.

The lawsuit said his parents also allegedly gained access to his personal accounts and would limit the amount of cash in them, while transferring the rest to accounts associated with the LLCs.

The suit, according to the Inquirer, said the money was supposed to be used for “traditional investment purposes,” but Bohm alleged that his parents used some of that money for their own use and used cash from the Alec Bohm Foundation to allegedly “pay their own personal expenses.”

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Bohm alleges parents tried to ‘freeze’ him out of accounts

The foundation was also set up by his parents, the Inquirer reported.

“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 said, via the Inquirer, which also detailed two other LLCs that were allegedly set up by Bohm’s parents to manage real estate deals for him.

Bohm’s lawsuit was filed after he recently began reviewing his personal and financial affairs, according to the Inquirer and The Associated Press. His lawsuit said when he began asking for access to the accounts and other information, his parents allegedly refused to help.

His suit also said they allegedly sought to “freeze” him out of four LLCs.

Bohm, who walked and hit a three-run homer in the Phillies’ 5-3 season-opening win over the Texas Rangers on Thursday in Philadelphia, declined to discuss the lawsuit after the game.

“I’m not going to address any personal matters right now,” he said, via The Associated Press.

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