Ex-NFL Player Charged With Running $2M Ponzi Scheme

Law360, Houston (January 24, 2013, 8:38 PM EST) -- A former NFL kicker was arrested in Texas on Thursday on charges that he stole $2 million through a Ponzi scheme that involved fake investments in fine art and foreign bearer bonds, according to federal prosecutors.

Russell Erxleben, 56, has been indicted on five counts of wire fraud, one count of securities fraud and two counts of money laundering for duping clients who believed their money was being invested in post-World War I German government gold bearer bonds and in artwork by French post-impressionist Paul Gauguin....
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