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“For me, I thought the best thing was to talk about it, let people know what happened to me,” Berard said in an interview. “You hate to say it, but there’s just a lot of bad people out there that really, when it comes to money they really don’t (care) who they step on or what damage they cause.”

Berard, a former first overall draft pick who played for six different NHL teams, has also spoken at the NHL’s rookie orientation on the subject of financial management. He shows players how long the money made from a short career has to last and how it’s far less than they might think after taxes and other fees. He advises against enticing, but risky investments like restaurants or real estate.

His best advice though is research, research, research. Ask questions about the strategy of the people handling the money and their background, he says.

Berard didn’t ask those questions. He knew the cheques were rolling in, but paid little attention to where the money was going. He figured the people he trusted would take care of those things.

“Most of the hockey players come from blue-collar families like I did. My parents knew nothing about investing; my parents didn’t have any money to invest,” said Berard, a native of Woonsocket, R.I. “We did trust somebody and obviously trusted the wrong person, but that’s where the younger kids today really need to ask questions and hopefully get steered in the right direction.”

Berard would eventually learn the people he trusted were using his money and that of other players for fraudulent purposes, including real estate deals that were fake or just bad investments. Berard started combing through his finances after retiring and, with the help of a retired police officer who had also been duped, unravelled the mess.