Dennis Rodman on discovering he was scammed by his financial advisor: “I’ve never even been to Victoria’s Secret”
Dennis Rodman, besides his on-court achievements, unfortunately also became known for his off-court adventures. Trips to Las Vegas and child support problems marked a large part of his life, and reckless spending became something of his trademark.
Throughout his career, he earned around $27 million just from NBA salaries, yet he managed to go bankrupt. Perhaps one of the most interesting stories about his off-court antics came in the mid-2000s, when he met a woman named Peggy Ann Furold through a mutual friend.
The two developed an extremely close relationship, which was even mentioned by Rodman in his 2011 Hall of Fame speech. This was a time when Rodman decided to get back on his feet and leverage his unique persona to make money, which at one point led him to earn over $1 million in the late 2000s between appearances and reality TV stints.
However, in parallel, Peggy controlled his debit cards, claiming she was helping him because Rodman's spending habits were out of control and "he couldn't be trusted with his own money".
Everything escalated in 2012 when five-time champ was on the verge of bankruptcy due to unpaid child support. In court, Rodman's spending habits were brought up, and he was questioned about a large charge at famous store.
"I've never even been to Victoria's Secret," the five-time champ told the media.
Peggy was defrauding multiple sports stars
Authorities later discovered that Furold was overseeing 85 bank accounts and transferring money from one account to another, living lavishly off the money of others. Further investigation revealed that she not only lied to Rodman but had an entire client base that believed she had Harvard Law School and Harvard Business School credentials and was making millions on Wall Street.
But that wasn't all, as authorities found over 20 shell corporations registered across multiple states, which she used for money laundering. According to reports, Peggy had a well-oiled scheme to access people's money.
"Peggy's scheme was as basic as it was brazen," Alex Prewitt wrote in his piece for "SI" . "Typically, she would offer to manage a victim's finances — no fee — and start two bank accounts where the new client's income would be deposited as it flowed in. One was a joint account for living expenses; the other, ostensibly for investments, would be funneled into her own coffers, aided by a power of attorney that she secured thanks to her supposed legal credentials."
Rodman managed to stay on his feet
Although she was sentenced in 2018 to 10 years in prison after admitting to defrauding Rodman, Ricky Williams, and many other sports stars, she was released early in 2023 to a home program after she had served part of her sentence in a low-security federal prison in Aliceville, Alabama.
Peggy was also ordered to pay $5.7 million to her victims and the Chicago Bulls and the Detroit Pistons icon. When asked for comment on Prewitt's article, he said he simply expects he will never see his money again.
Although he continued to earn money after his career, Rodman's net worth today is estimated to be around $500,000, which is a substantial amount. Still, for someone who earned over $25 million during his career and lived the lifestyle he did, it's just a drop in the bucket.
This story was originally published by Basketball Network on Jan 4, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.
