Cambridge Capital Group Advisors, its president Phillip Timothy Howard, and previously barred investment adviser Don Warner Reinhard are now the subject of a Securities and Exchange Commission (SEC) case accusing them of defrauding 20 investors, the majority of whom are retired National Football League players. Howard, who is also an…
The US Attorney’s Office for the Southern District of Texas recently announced that District Court Judge Keith P. Ellison has sentenced former financial adviser Peggy Ann Fulford to 120 months in prison—that’s 10 years. Fulford defrauded a number of professional athletes, including ex-NBA basketball players Dennis Rodman and Travis Best,…
Brian J. Ourand, a former Live Nation Entertainment and SFX Financial Advisory Management Enterprise executive, has pleaded guilty to wire fraud. Ourand admitted to embezzling almost $1M from heavyweight champion Mike Tyson, NBA basketball stars Glen Rice and Dikembe Mutombo, and another athlete. According to prosecutors, Ourand began defrauding clients…
Robert Lunn, the financial adviser who bilked former NBA star Scottie Pippen, has been sentenced to three years behind bars. Lunn was convicted in 2014 of multiple counts of bank fraud. According to prosecutors, he obtained $3M in loans from Leaders Bank, $1.4M of which he claimed was for Pippen…