Phillies third baseman Alec Bohm has filed a lawsuit against his parents, claiming they mismanaged his finances and siphoned away millions of dollars from his personal accounts for their own use.
Bohm, 29, filed suit in the Philadelphia Court of Common Pleas on Wednesday. He alleges his parents, Daniel and Lisa Bohm, defrauded him by creating a series of limited liability companies to steal money under the guise of stewarding his assets.
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Bohm is seeking at least $3 million and a full accounting of his parents’ handling of his money. Details of the lawsuit were first reported Thursday by the Philadelphia Inquirer.
Bohm’s parents, through their attorney, have denied wrongdoing.
“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,” the couple’s attorney, Robery Eckard, said in a statement. “They are deeply saddened by the allegations made against them in this lawsuit and the sensational, false narrative painted there, which they believe is entirely without merit. They are confident that the truth will come out through the facts and legal process.”
Bohm’s attorney, Gary A. DeVito, did not respond to a request for comment.
The lawsuit alleges Bohm’s parents created two LLCs in Florida in 2019, when Bohm was still in the Phillies’ minor league system, to help manage his earnings. Bohm’s parents allegedly told him they needed to take a 10% equity stake in the accounts to act as his representatives for assets drawn from his personal accounts. The suit claims Bohm’s parents capped the amount of money that could remain in Bohm’s personal accounts and transferred the excess to the LLCs.
Although the LLCs were intended to oversee Bohm’s investments, the suit alleges his parents exploited the accounts to take an undetermined amount of money from him to pay their own expenses. Bohm alleges his parents misled him about the arrangement, took money from his charitable Alec Bohm Foundation and created two other LLCs in 2024 when Bohm sought to purchase a home in Texas.
The lawsuit claims Bohm’s parents told their son they would need to place the title to the Texas property and its ownership in the two LLCs instead of in his own name. Bohm’s parents allegedly didn’t explain why this was necessary, and they said they would need to hold membership interest in the LLCs as they had done before. The suit claims Bohm’s parents used the LLCs to take money by overstating liabilities connected to the property.
When Bohm confronted his parents earlier this year seeking information about their management of his finances, they allegedly hired an attorney and told their son they would charge him a rate of $50 an hour for their past administration of his accounts.
Eckard said Bohm’s parents “acted with full transparency” since the LLCs were formed and Bohm retained “unfettered access” to all of his accounts during the period in question. Bohn was a co-manager with login access to his brokerage and bank accounts, Eckard said, and he had “blindly signed” the signature pages of the operating agreements for the LLCs without full knowledge of their contents.
“The credibility of (Alec) Bohm should be questioned, and it will be,” Eckard said. “This lawsuit has the structural integrity of wet parchment and Daniel and Lisa Bohm will aggressively defend these feckless allegations.”
Bohm’s suit says he and his attorneys are still investigating his accounts to determine the full extent of the money allegedly taken from them. He is seeking a court order to give him full control over the LLCs.
Bohm returned to the Phillies this season on a $10.2 million contract reached in January to avoid arbitration. He hit a three-run homerun in the Phillies’ Opening Day victory over the Texas Rangers on Wednesday. After the game, he declined to discuss the lawsuit when questioned by reporters.
“I’m not going to address any personal matters right now,” Bohm said.