Spurs star Tim Duncan claims that his former financial adviser duped him into pumping $1.1 million into a “profitable” cosmetics company when it actually was in bad financial straits, according to a new lawsuit.

Duncan alleges that the adviser, Charles Banks, did not disclose that Métier Tribeca LLC, which does business as Le Métier de Beauté (the Craft of Beauty), was failing to meet its financial obligations or that Banks and others would not pitch in any money for the deal when Duncan had initially been told that they would.

Among those Duncan was led to believe would invest in the company was another NBA standout, Kevin Garnett, the new lawsuit alleges.

Le Métier is now in bankruptcy, court records show.

“Duncan, reasonably relying on these misrepresentations, was induced to enter into the investment in Le Métier,” the lawsuit said. “Duncan suffered damages proximately caused by defendant’s fraudulent inducement.” Duncan wants his $1.1 million back, plus punitive damages against Banks.

Banks has previously denied Duncan’s allegations. Messages seeking comment were left for his lawyers Friday.

Duncan also sued Banks in January, accusing the private-equity investor of pushing him into several investments despite conflicts of interest, investments that ultimately caused Duncan more than $25 million in losses.

Duncan has said the losses from 2005 to 2013 were discovered during a review of his finances as part of his divorce.

In September, U.S. District Judge Xavier Rodriguez split up Duncan’s original lawsuit. The judge agreed with Banks that three funds Duncan invested in must be litigated in arbitration and that claims stemming from a $7.5 million investment loan Duncan provided should be moved to Colorado. The judge ordered Duncan to amend the San Antonio lawsuit to include only claims that can be resolved under Rodriguez’s jurisdiction, resulting in the latest lawsuit,which was filed Thursday.

In the new filing, Duncan said Banks pitched Le Métier as an investment opportunity in an email in July 2012. Initially, Banks sought $500,000, the lawsuit said.

The email, according to the lawsuit, said Le Métier was “doing approx. $8m in sales in 2012 and its profitable. I love the CEO and founder and our co-investor started and sold Bobbi Brown Cosmetics. We are investing approx. 2.5m. Im investing $lm, KG is going 500K and the bobbi brown guy is doing 500K. Interested in the other 500?”

The lawsuit said the CEO mentioned in the email was Richard Blanch, the co-investor was Ken Landis and “KG” referred to Kevin Garnett. It was not clear if Garnett invested. A message seeking comment was left for Garnett’s agent, Andy Miller at ASM Sports. A representative said the agency does not comment on such matters.

From the onset, the lawsuit said, Banks knew things that would have given Duncan pause in investing but did not disclose them.

“Duncan was not told that Banks had advised Le Métier that he was skeptical about sales projections and that he was not proceeding with his investment,” the lawsuit said. “Banks did not tell Duncan that the questionable sales projections increased the risk of the pitched investment and that the CEO and founder (Blanch) was ‘desperate’ to close the investment. Upon information and belief, Banks had little confidence in the management of Le Métier and had concocted a strategy to replace that management.”

And, the lawsuit said, Banks texted Duncan on Oct. 24, 2012, to ask for his part of the investment. But rather than request $500,000, the lawsuit said, Banks asked “for $1.1 million providing no other explanation than ‘more than we thought only due to the fact that we are picking up extra 10% of company. So very good news.’”

The lawsuit said Duncan wired $10 million, from which Banks was to take the $1.1 million and $7.5 million for another venture.

Unknown to Duncan at the time, Banks and his partners had the cosmetics company audited in January 2013 and discovered “accounting irregularities” and possible fraud, according to the lawsuit.

Banks did not share the information with Duncan, and instead sent him a text a month later that stated, “need to update on ... Le Métier deal. All good news.”

Banks, on behalf of Le Métier investment partners, sued Blanch in federal court in New York in September 2013, accusing him of mismanagement and fraud. Blanch countersued, alleging that Banks utilized strong-arm tactics and threats of exposing Blanch to criminal prosecution to force him to resign from Le Métier.

During the spat, vendors seeking payment were caught in the middle and Le Métier filed for Chapter 11 bankruptcy protection in September 2014, according to court records. Blanch’s countersuit alleged that Banks sought a forced bankruptcy to take control of Le Métier and sell it to others.

Duncan claims that because of his busy professional career, he was unaware of all this but has been learning more about Bank’s conduct since Duncan’s divorce in 2013.