The Phillies’ Alec Bohm sues his parents, alleging they mismanaged his finances
The third baseman says his parents used limited liability companies to funnel money from his personal financial accounts, which they then “converted to their own use.”
Phillies third baseman Alec Bohm has sued his parents, alleging the pair defrauded him of millions of dollars under the guise of managing his financial affairs.
Bohm says in the suit that his parents, Daniel and Lisa Bohm, used several limited liability companies to funnel money from his personal financial accounts, which they then “converted to their own use.” Filed Wednesday in the Philadelphia Court of Common Pleas, the lawsuit seeks a judgment of at least $3 million, as well as an accounting of the funds in question, among other relief.
Bohm’s parents, through their attorney, 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,” said Robert Eckard, the pair’s attorney. “They are deeply saddened by the allegations made against them in this lawsuit and the sensational false narrative painted here, which they believe are entirely without merit.”
In the suit, Bohm, 29, says that the situation dates back to 2019, when his parents set up two LLCs to hold the money and assets he earned as a professional baseball player. The Nebraska-born Bohm initially signed with the Phillies in 2018, and has a $10.2 million contract via arbitration with the team this year.
Bohm alleges his parents told him they needed to take a 10% interest in those LLCs on paper in order to act as authorized representatives of his interests, but he would retain all the assets and funds they contained.
Daniel and Lisa Bohm went on to gain access to their son’s personal financial accounts, the lawsuit says. They would limit the amount of money in the personal accounts, and transfer the rest to ones held by the LLCs, according to the suit.
The money in those accounts was then ostensibly used for “traditional investment purposes,” such as stock trading, to secure Bohm passive income, the lawsuit states. However, the lawsuit alleges that Bohm’s parents “converted to their own use” an undetermined amount of money from the accounts, and used money from the Alec Bohm Foundation — which they also established — to “pay their own personal expenses.”
“Daniel and Lisa repeatedly advised Alec that, whenever they acted on his behalf, they did so as Alec’s parents — whose assistance always came free of charge,” the lawsuit says. Bohm, it adds, had not viewed the full operating agreements for the LLCs and believed they only enabled his parents to “start managing his financial affairs.”
The elder Bohms, the complaint alleges, later set up two more LLCs under similar circumstances once their son became interested in purchasing real estate in late 2024. One entity was meant to hold the title to a property Bohm was interested in purchasing, while the other was meant to own that entity, as Bohm’s parents allegedly advised him that he “could not take title to the property in his own name.” The lawsuit says Bohm’s parents did not explain to him why this was the case.
Once the property was purchased, the claim says, Bohm’s parents “periodically mentioned the cost of certain property-related liabilities,” and told him those things had been paid for. Now, however, Bohm believes his parents “overstated certain liabilities in order to misappropriate a portion of monies.”
The issue appears to have come to a head in January, when the lawsuit says Bohm asked his parents to provide him with information about his holdings, including account statements and electronic login information. As the lawsuit puts it, his parents opted to “engage counsel,” who then gave minimal information.
Bohm’s parents later allegedly indicated they would bill Bohm for “all the time they spent to administer Alec’s affairs” at a rate of $50 per hour.
Now, Bohm is asking the court to order his parents to return any money they used for their own purposes, as well as “pay a sum certain to Alec to make Alec whole.” The lawsuit is also seeking an order from the court that would give him full control of all LLCs involved, and require Bohm’s parents to hire a certified public accountant to determine the amount of damages sustained.
Bohm’s legal team declined to discuss specific allegations or details of the case, but said its review of the situation remains ongoing.
“What we can confirm is that we are conducting a thorough examination of the financial activity in question and will take all appropriate legal steps to protect our client’s interest,” said attorney Gary A. DeVito. “We ask that his privacy be respected while this matter proceeds.”