Claims wealth management unit engaged in questionable business practices in bid to land professional football clients
SunTrust Investment Services Inc. finds itself at the center of a dispute between a pair of National Football League sports agents.
Danny Martoe, vice president of Rosenhaus Sports, has accused Drew and Jason Rosenhaus, founders of the firm, of withholding commissions. He also claimed that SunTrust, the wealth management arm of SunTrust Banks Inc., engaged in questionable practices.
In an arbitration filing with the National Football League Players Association, Mr. Martoe alleged that Rosenhaus Sports received beneficial treatment from SunTrust in exchange for bringing the agency's football clients to a SunTrust financial adviser, according to a Yahoo! report.
In exchange for introducing clients like Dez Bryant, wide receiver for the Dallas Cowboys, to the SunTrust financial adviser, Rosenhaus Sports would receive bigger loans and lower rates, Mr. Martoe claims.
Hugh Suhr, spokesman for SunTrust, wouldn't comment whether it is looking into the charges. “We comply with all applicable laws and regulations when conducting our business, and provide clients with credit services based upon our independent underwriting process,” he said.
Representatives for Mr. Martoe and Rosenhaus Sports did not return calls for comment.
