Ex-NBA stars Earl "The Pearl" Monroe and Henry Bibby claim they got "conned" into joining a new basketball league ... only to get screwed out of thousands of dollars.
Both guys are suing the Champions League -- a 5-on-5 full court league comprised mainly of retired NBA players and coaches.
Monroe and Bibby claim they were promised serious cash to join -- but the money never came.
According to the suit, obtained by TMZ Sports, Monroe accepted a job as Sr. VP and GM of the Gotham Ballers -- and was supposed to get $110k ... but he only got $30k instead.
Bibby says he was supposed to get $60k for coaching the Phoenix Desert Cats -- but never got a cent.
The guys say they were offered stock to make up for the cash -- but they think the whole league is a Ponzi scheme and want their cash, asap.
Monroe and Bibby want their money -- plus hundreds of thousands in additional damages.