Pippen wins $11 million lawsuit against financial adviser

Former Chicago Bulls star Scottie Pippen won an $11.8 million judgment against a Chicago financial adviser who steered the basketball player's money into questionable investments, according to court papers.

Pippen's lawsuit said Pippen entrusted Robert Lunn and his firm, Lunn Partners LLC, with $17.5 million.

The seven-time All-Star who retired from playing in the NBA in October, was referred to Lunn by other advisers, Pippen's attorney Bob Cummins said. "This has really been quite a rip-off," said Cummins.

According to the lawsuit, filed in Cook County Court in April, Lunn invested more than $7 million of Pippen's money into real estate ventures with a developer that filed for bankruptcy protection in October 2003. Lunn also failed to disclose that he had extensive business relationships with the developer, the paper reported.

Pippen also lost $1.7 million and is liable for an additional $5 million after Lunn involved him in a poorly structured deal in a Gulfstream airplane, court papers said.

"Mr. Pippen may not be the only person chasing Mr. Lunn," Cummins said. "We're going to have to figure out how big the pie is."