Lorenzen Wright’s Family Take Money Battle To Court

(Memphis) Murdered NBA player Lorenzen Wright’s family is being torn apart again.

Tuesday, a judge heard arguments why his ex-wife, Sherra Wright, should be in charge of the million dollar life insurance policy taken out for the kids’ future.

Other family members said the money is gone, and the kids didn’t see a dime.

Testimony lasted all afternoon Tuesday and will continue Wednesday morning at 10.

It’s all boiling down to two arguments: if the children’s trust fund was spent wisely and who benefited the most.

Lorenzen Wright’s ex-wife, Sherra Wright, took the stand.

She said her six children are in her best interest, and she’s invested most of the life insurance money, plus some, in real estate.

Lorenzen Wright’s father, Herb Wright, launched the legal battle, saying his former daughter-in-law blew the money on vacations, luxury cars, furniture, a new home and pool, and nothing was set aside for higher education or health insurance.

Documents show Sherra spent $973,000 in the first ten months.

From here on out, he wants the bank to manage the children’s estate.

Wright’s attorney, Ruby Wharton, said there’s only $5.08 left from the life insurance policy, because she was “a runaway train when it came to spending.”

Wharton asked Sherra Wright why she bought a Mercedes, Lexus and Escalade with the life insurance money, Lorenzen Wright took out six months before his death.

Sherra Wright told her the Lexus and Mercedes were for the older children, because their dad promised them the cars. The Mercedes was for the family.

She said she got rid of her old car, because her kids told her they were embarrassed to ride in anything else.

As for the house in East Shelby County, Sherra Wright told Wharton it was in foreclosure when she bought it. The house cost around $325,000, and she spent $100,000 in renovations.

Sherra Wright’s attorney, Christopher Donovan said everything she’s done is for the kids, and while most of the life insurance money is gone, there’s still 95 percent in real estate value from properties in East Shelby County and Arkansas.

Sherra said the family is financially strong listing $1.4 million in assests.

“People were after me. Things were happening [after my husband was murdered]. I was trying to protect my kids,” said Sherra Wright.

The NBA also gave the family $180,000 in death benefits. A judge froze that money until after the court hearing.

The judge is expected to decide if a bank or Sherra Wright will be in control of the money Wednesday afternoon after the defense tells their side.

Sherra Wright said Tuesday she has remarried since Lorenzen Wright’s murder.

Lorenzen Wright’s murder is unsolved.