Lenny Dykstra

Former NBA superstar Allen Iverson earned $154 million from his Sixers salary alone during his career. Now, he owes more than he can pay. How did it happen, and what lessons can his fiscal foul-ups teach to the rest of us. The answers are distressingly simple.

We learned last week that former NFL star Chris McAlister, a three-time Pro Bowler, is broke and living with his parents after just a year out of the league. But he's hardly the first sports icon to blow through the cash in a flash. In his honor, here are our 10 favorite professional asset-annihilating athletes.

Maybe it's the inflated ego or the itch to do something with those millions of dollars just laying around, but some celebrities have a knack for making some pretty bad business decisions. Somehow, they convince themselves that they can branch out beyond their talents -- only to discover that their...

AVT has been accused of supplying former Mets outfielder Lenny Dykstra with over $250,000 to promote its shares on TheStreet.com and provide access to the site's founder and "Mad Money" host Jim Cramer. Now ATV is fighting back.

Looks like it is going to be a rough week for former baseball great Lenny "Nails" Dykstra. For those of you not familiar with the situation, Nails was a star outfielder for the New York Mets and Philadelphia Phillies who, in retirement, became an entrepreneur and investment guru of...