Former NFL player charged with running $10 million financial fraud

August 10, 2016 4:22 PM EDT

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

WASHINGTON (Reuters) - Former NFL player Merrill Robertson Jr. was charged on Wednesday by the U.S. Securities and Exchange Commission with defrauding investors.

Robertson, a former Philadelphia Eagles player, and Sherman Vaughn Jr., co-owners of Cavalier Union Investments LLC, diverted nearly $6 million of the more than $10 million they raised from investors to pay for personal expenses, according to the complaint, filed in federal court in Richmond, Virginia.

(Reporting by Eric Walsh)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Add Your Comment