Mo’ Money Mo’ Problems: Feds Pop Shady Financial Advisors For Embezzling $2 Milli From Colts Baller Dwight Freeney
Feds Arrest Dwight Freeney’s Financial Advisors For Embezzling Over $2 Million From NFL Player
SMH… This is why you can’t trust anybody around your money! NFL player Dwight Freeney had to learn that lesson the hard way.
According to TMZ reports:
While Indianapolis Colts stud Dwight Freeney was crushing NFL QBs … 2 financial advisors allegedly sacked him in an embezzlement scheme involving millions of dollars, luxury hotels, and a private jet … TMZ has learned.
According to the Federal complaint — obtained by TMZ — Eva D. Weinberg and Michael A. Stern were busted late last week after a lengthy investigation revealed how they “conspired to defraud victim D.F., a professional football player.”
According to the docs, Weinberg is a financial advisor at Bank of America who worked with Freeney, controlled several of his accounts, and introduced him to Stern … also a financial advisor.
The feds claim Weinberg and Stern did major damage between May 2010 and October 2011 — making $2.2 million in fraudulent transfers from Dwight’s accounts to Arms Reach Consulting — a company controlled by Stern.
When Freeney finally noticed one of the bogus transfers in 2011, and discovered Weinberg and Stern were dating … he called the FBI.
One FBI investigator says some of the items Weinberg and Stern purchased with Freeney’s cash include expensive sunglasses, stays in luxury hotels, and — best of all — they planned to buy a private jet for $1.5 million!
According to the docs, agents even heard Stern brag on the phone … “no one would be able to connect him to the [consulting] account if the wire transfers were investigated.”
Clearly he was wrong … agents arrested Weinberg in L.A. and Stern in Miami. Both were charged with wire fraud.
Calls to Freeney’s attorney were not immediately returned.
Damn son… They were trying to get a private plane with his money!!!
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Former NBA Player Tate George Indicted On Wire Fraud Charges
SMH. Clearly the NBA needs to step up their 401 K plan.
Former NBA player Tate George was indicted Friday by a Newark grand jury for allegedly orchestrating a $2 million Ponzi scheme, the US Department of Justice said.
George, who played four seasons of professional basketball as a guard for the New Jersey Nets and the Milwaukee Bucks, was indicted on four counts of wire fraud.
Prosecutors alleged that George raised more than $2 million from investors between 2005 and 2011, claiming it would be used to finance George Group, his supposed real estate investment business.
However, prosecutors said George Group had virtually no business at the time. Instead, the money was allegedly used to repay prior investors, to fund home-improvement projects and to pay for meals, clothing and gasoline.
Under the wire fraud counts with which he is charged, George faces a maximum potential penalty of 20 years in prison and a $250,000 fine for each count.
An attorney for George wasn’t immediately available for comment.
This guy looks like a complete doofus. We can’t believe anybody would even trust him with their money to begin with.
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