According to Reed, he had withdrawn the large amount of cash from a Houston bank on Wednesday afternoon and put it all in to a bag. He then drove to another bank and left the bag of money on the seat of his car while he quickly ran inside.
A police report states that thieves had apparently followed Reed, waited for an opportune time to strike, broke the window of his Audi, snatched the bag, then hightailed it away. According to investigators, the Reed crime is part of a popular theft trend, where people who make withdrawals from a bank or ATM are then followed and robbed. Police refer to this type of robbery as "jugging." According to Houston police Sgt. Arturo Bazan, who spoke to Fox Sports, "These guys go all over the city, every bank. It's all over."
The 35-year-old player, who will be an unrestricted free agent, signed a one-year contract in November, after being released by the Texans who gave up on the nine-time Pro-Bowler after only seven games; Reed had signed a three-year, $15 million deal with Houston.
Meanwhile, police have no idea as to why Reed was driving around with $50,000 in cash; however, the investigation is ongoing.