Ex-NFL Player Cops To Running $2M Ponzi Scheme

Law360, Houston (December 18, 2013, 6:48 PM EST) -- A former NFL kicker admitted Wednesday in Texas federal court that he had run a $2 million Ponzi scheme involving fake investments in fine art and foreign bearer bonds, and has agreed to spend the next 7 1/2 years in prison.

Russell Erxleben, 56, copped to scamming clients who believed their money was being invested in post-World War I German government gold bearer bonds and artwork by French post-impressionist Paul Gauguin. In exchange for Erxleben’s guilty plea to a pair of wire fraud and money laundering...
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