Emmitt Smith Ex-Business Associate Wants To Sue Ex-NFL Star For Fraud

One of Emmitt Smith's former business associates is asking the court for the right to countersue the NFL legend ... claiming the ex-running back defrauded him.

Smith initially sued Johnny Wimbrey back in Dec. 2024 -- alleging he gave Wimbrey and several other defendants hundreds of thousands of dollars to invest ... but claims the funds were "misappropriated for other purposes."

This week, though, Wimbrey filed to amend a previously dismissed lawsuit against Smith -- alleging the Dallas Cowboys great was actually the one who caused the financial losses.

In his planned countersuit, Wimbrey says Smith "misrepresented to third parties that he had authority to act on behalf of Wimbrey and to use Wimbrey's name and reputation in connection with soliciting or pooling investments."

"These unauthorized syndications created liability exposure for Wimbrey, damaged his reputation, and wrongfully tied him to transactions and representations he did not authorize."

Wimbrey -- who TMZ Sports is told was Smith's close family friend -- added he "suffered reputational damage, incurred legal expenses and sustained other financial losses" due to Smith's actions.

He's asking for unspecified damages in the countersuit.