Former Tennis Star Accuses Broker of Fraud

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Former tennis champion Tracy Austin has joined an all-star cast of sports figures in accusing a prominent Los Angeles investment broker of defrauding them.

In a civil lawsuit filed Tuesday in Los Angeles County Superior Court, Austin and her husband, Scott Holt, alleged that Gary R. Fournier charged excessive commissions on bond trades and “churned” their accounts to generate fees from unnecessary transactions.

The couple claims damages “in excess of $500,000” on the trades, which allegedly occurred from 1994 to 2002, while Fournier worked for Salomon Smith Barney Inc. in Los Angeles. Its successor firm, Citigroup Global Markets Inc., also is named as a defendant. Fournier, an investment advisor for more than 30 years, has denied wrongdoing. Citigroup declined to comment.

Austin’s allegations mirror those previously made against Fournier by other sports figures, including Los Angeles Lakers great Jerry West and General Manager Mitch Kupchak; former National Basketball Assn. players B.J. Armstrong and Stacey Augmon; and former Major League Baseball players Sean Douglass and Rex Hudler, now a member of the Angels broadcast team.


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