NBA Players Union's Money Man Cops To Fraud

Law360, New York (November 14, 2013, 7:02 PM EST) -- The head of an investment advisory firm that served the NBA Players Association pled guilty Thursday to trying to defraud the union out of $3 million with a phony contract.

Joseph Lombardo, the founder and managing director of Prim Capital Corp., pled guilty to a single count of mail fraud and to conspiracy to obstruct justice at a hearing before U.S. District Judge Jesse M. Furman in New York federal court.

Lombardo, 72, admitted to making up a retention contract and then applying a forged signature...
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