Search This Blog

Wednesday, August 17, 2011

NFL player's investment loss

NFL player's investment loss

Kicker David Akers. (AP Photo/George Widman)

All heard of NFL players losing money in shady investment deals. But this is staggering.
San Francisco 49ers kicker David Akers testified in front of a federal jury on Monday about losing $3.7 million investing with Triton Financial of Austin, Texas, from 2007 to 2009.
Akers claims he got some bad advice from Kurt Barton, the former chief executive of the company.
"I've had a lot of sleepless nights," Akers told the Austin American-Statesman. "This is my family's future. I said that to Kurt a lot of times. I said, 'Man I'm trusting in you.'"
Prosecuters say Barton regularly lied to investors about where their money actually ended up; instead he built up a $50 million Ponzi scheme.

No comments:

Post a Comment