'Rudy' Drink Investor To Pay $5M Over Alleged Stock Scheme

Law360, New York (September 25, 2013, 7:01 PM EDT) -- An investor and his stock broker will have to pay more than $5 million for their involvement in an alleged “pump-and-dump” stock scheme surrounding former Notre Dame football player Daniel “Rudy” Ruettiger’s sport drink company, according to a final judgment filed Tuesday.

The judgment requires Gregg Mulholland, who the SEC says was a main “pumper” in the scheme, to pay $5.3 million for fraudulently marketing shares of Ruettiger’s company, Rudy Nutrition, to investors in order to artificially inflate the stock price before selling his shares at...
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