Ty Detmer swindled and broke

[KYPack]

I was watching a show on PBS couple days ago. It was mildly interesting. It was about the fact that since the Madoff scandal involving a huge Ponzi scam, there are actually more people getting swindled by Ponzi scams. It seems the Madoff affair got more crooks interested in starting these kinds of swindles.

Today I read an article about Ty Detmer. He got swindled by a con man in Austin, Texas. This guy was so convincing, he got Detmer to bring in his former teammate David Akers (the kicker) to invest in the scam.

Detmer testified at the swindler's trial and broke down on the stand. Detmer is broke, had to sell his house and now works as a HS coach in Austin, TX. I sort of didn't believe that show, but I imagine Ty Detmer believes it's real possible to be a victim of these scams.

[Deputy Nutz]

I bet you all are gonna blame this on Brett Favre as well.

[bobblehead]

I bet you all are gonna blame this on Brett Favre as well.

well....the aw shucks gullible attitude does seem contagious.

[pbmax]

Akers lost $2.7 million. But I am pretty sure Favre has his cash stuffed in a mattress. Somwhere.

[MJZiggy]

Akers lost $2.7 million. But I am pretty sure Favre has his cash stuffed in a mattress. Somwhere.

It's at Jenn's place.

[Packers4Glory]

stupid MFers. if you have that much money find a reputable investment management company.

[Brandon494]

I bet you all are gonna blame this on Brett Favre as well.

I think we all know it's Obama's fault

[smuggler]

More like Al "the Pseudoscientist" Gore.

[KYPack]

stupid MFers. if you have that much money find a reputable investment management company.

Every Ponzi scam has dozens of people who were swindled. Each one of them was stupid, naive, and most of all, greedy.

That goes double for Akers and Detmer. The swindler initially approached Detmer about a "great" real estate deal. He convinced him they could buy a multi-million dollar warehouse for half it's value. Dtemer put in $750,000. The swindler bought the warehouse for a half million and pocketed Detmer's $250,000. A simple appraisal would have saved Detmer a ton of money.

There's another angle to all of this. Remember when Akers missed those key kicks (one against us) last season? Andy Reid said Akers was going thru some personal problems. The problem was he was broke due to this swindle. Akers ran to the Eagles and said he needed to sign a new long term contract. The Eagles told him they weren't gonna do that and Akers freaked out. It affected his play, I'll tell ya.

[hoosier]

Every Ponzi scam has dozens of people who were swindled. Each one of them was stupid, naive, and most of all, greedy.

That goes double for Akers and Detmer. The swindler initially approached Detmer about a "great" real estate deal. He convinced him they could buy a multi-million dollar warehouse for half it's value. Dtemer put in $750,000. The swindler bought the warehouse for a half million and pocketed Detmer's $250,000. A simple appraisal would have saved Detmer a ton of money.

There's another angle to all of this. Remember when Akers missed those key kicks (one against us) last season? Andy Reid said Akers was going thru some personal problems. The problem was he was broke due to this swindle. Akers ran to the Eagles and said he needed to sign a new long term contract. The Eagles told him they weren't gonna do that and Akers freaked out. It affected his play, I'll tell ya.

I thought Akers was dealing with his daughter having cancer. Double whammy?

Have to agree with P4G and KY, though, it's hard to feel to sorry for their fates. Their stories are not tragedies but comedies--dark comedies. The daughter's cancer, on the other hand, that is a tragedy.

[woodbuck27]

I bet you all are gonna blame this on Brett Favre as well.

It's Favre's fault...somehow has to be. He's living only a couple of States away. He eats alot of Ponzi.

[woodbuck27]

It's at Jenn's place.

No No! That's 'only' where he keeps his personalized towels and face cloths. Once upon 'a fantasy'. Mid Life Crisis is a stinger. (-;

[woodbuck27]

Every Ponzi scam has dozens of people who were swindled. Each one of them was stupid, naive, and most of all, greedy.

That goes double for Akers and Detmer. The swindler initially approached Detmer about a "great" real estate deal. He convinced him they could buy a multi-million dollar warehouse for half it's value. Dtemer put in $750,000. The swindler bought the warehouse for a half million and pocketed Detmer's $250,000. A simple appraisal would have saved Detmer a ton of money.

There's another angle to all of this. Remember when Akers missed those key kicks (one against us) last season? Andy Reid said Akers was going thru some personal problems. The problem was he was broke due to this swindle. Akers ran to the Eagles and said he needed to sign a new long term contract. The Eagles told him they weren't gonna do that and Akers freaked out. It affected his play, I'll tell ya.

Holy Cow KY. You' ve got more inside than ProFootBallTalk.Com

Where's your BLOG on the Net?

[Harlan Huckleby]

I expect some wealthy mormon in utah will it in their hearts to hire a BYU grad.

[KYPack]

Actually, I have very little to no inside knowlege anymore. 25 years ago, I owned a condo where a handful of Cincy Bengals lived. I knew which guys were screwing which cheerleaders etc, and all kinds of good NFL gossip. Now, I read PFT like all the other tourists.

I ran up on this tale bc of a PBS show I spoke of in the first post. I didn't believe that Ponzi schemes were on the increase. I went on the net to check it out. The first Ponzi scheme story I ran into was the Detmer/Akers story. The trial for that scam is going on in Austin as we "speak".

I did eventually learn a little about "New Ponzi" schemes. The scammers now don't promise untold riches. They promise guaranteed growth and cash liquidity. The confidence boys know that the scam can't sound too good to be true, so they appeal to the desire for growth and stability. With legit investment in the toilet, the thieves promise modest growth and instant ability to cash out + tax savings.

It all sounded pretty good to Ty Detmer. After 14 years in the NFL, he's now picking socks and jocks up off the floor in a High School locker room.

[Scott Campbell]

It's much harder to keep it than to make it.

[Scott Campbell]

It's Favre's fault...somehow has to be. He's living only a couple of States away. He eats alot of Ponzi.


Why are you so down on Bert now? I guess changing one's mind is a Canadian's prerogative.

[MadScientist]

It's much harder to keep it than to make it.
NFL players have an additional factor that makes them a better mark. The make a good chunk of cash but often after that have little income potential. Then need a way to make their nest egg become a source of stable income to last a long time, so they take some higher risk investments than people looking to save for a retirement will. Some of them get burned badly.

[mraynrand]

stupid MFers. if you have that much money find a reputable investment management company.

I use Lehman Brothers

[pbmax]

I use Lehman Brothers

+1

[cheesner]

I fell for a fonzie scheme once.


http://wasagabeachtalking.com/files/2010/07/fonzie.jpg

I mean, how can you not trust this guy? AAaaaaaaaaaaaaaaaa!

[Guiness]

I use Lehman Brothers

touche

The tie-in with Akers makes all kinds of sense as well. Guy went from a Pro Bowler to outright release in 2.5 kickoffs. Someone was in that guy's kitchen waving around the pots and pans.

[sheepshead]

a friend of mines sister, who's an author you would know, that also lives in Madison lost over $1 million , same type of deal.

[KYPack]

I thought Akers was dealing with his daughter having cancer. Double whammy?

Have to agree with P4G and KY, though, it's hard to feel to sorry for their fates. Their stories are not tragedies but comedies--dark comedies. The daughter's cancer, on the other hand, that is a tragedy.

The daughter had a cyst on her ovary. Post op, it turned out to be benign. So yeah, he had a double whammy. At the time, he was real worried about his daughter plus he was discovering that he was wiped out financially. That would definitely toy with your mind. I don't blame the boy for being all screwed up.

Both him and Detmer are Mormons. Just goes to show ya, straight arrow family guys can get all fucked up, too.

[Scott Campbell]

The daughter had a cyst on her ovary. Post op, it turned out to be benign. So yeah, he had a double whammy. At the time, he was real worried about his daughter plus he was discovering that he was wiped out financially. That would definitely toy with your mind. I don't blame the boy for being all screwed up.

Both him and Detmer are Mormons. Just goes to show ya, straight arrow family guys can get all fucked up, too.


Utah is the boiler room capital of the country. We have people getting scammed here all the time. The Mormon's typically do the following for their due diligence: "What Ward are you in?"

[swede]

Utah is the boiler room capital of the country. We have people getting scammed here all the time. The Mormon's typically do the following for their due diligence: "What Ward are you in?"

One of the best things about Packerrats is having an on-site Mormon interpreter.

[mraynrand]

touche

The tie-in with Akers makes all kinds of sense as well. Guy went from a Pro Bowler to outright release in 2.5 kickoffs. Someone was in that guy's kitchen waving around the pots and pans.

Ruprecht! If you keep banging your pots, you won't have any pots left!

http://cdn5.movieclips.com/mgm/d/dirty-rotten-scoundrels-1988/0135795_691_MC_Tx360.jpg

[mraynrand]

Utah is the boiler room capital of the country. We have people getting scammed here all the time. The Mormon's typically do the following for their due diligence: "What Ward are you in?"

Hey, I have some salamander papers to sell you

[pbmax]

a friend of mines sister, who's an author you would know, that also lives in Madison lost over $1 million , same type of deal.

You cannot do this sheep. Now it will drive me crazy.

Jacquelyn Mitchard
Lorrie Moore
Thorton Wilder ...

Fess up!

[pbmax]

One of the best things about Packerrats is having an on-site Mormon interpreter.

Neither Google or Apple have an app for that yet.

[sheepshead]

You cannot do this sheep. Now it will drive me crazy.

Jacquelyn Mitchard
Lorrie Moore
Thorton Wilder ...

Fess up!

Very good, its the first, its ok she was public about it.

[RashanGary]

I bet you all are gonna blame this on Brett Favre as well.

Well, yeah.

[Harlan Huckleby]

You cannot do this sheep. Now it will drive me crazy.

Jacquelyn Mitchard
Lorrie Moore
Thorton Wilder ...

Fess up!

I bet it is an "author" of porn movie scripts. And yes, we probably are familiar with her work.

[KYPack]

The guy who masterminded the scam that robbed Akers and Detmer was convicted of 39 counts in court yesterday. Kurt Barton faces life in prison for his fraud, and will do at least 30 years.

In addition to those two guys, Earl Campbell, and Chris Weinke, and former NFL quarterback Jeff Blake also lost big sums of money.

[swede]

I bet it is an "author" of porn movie scripts. And yes, we probably are familiar with her work.


Mr. Goodwench

Chapter One

Wanda: Mr. Goodwench, could I see your tool?

http://cache2.allpostersimages.com/p/LRG/56/5654/EVOMG00Z/posters/woman-using-typewriter.jpg

[Deputy Nutz]

The guy who masterminded the scam that robbed Akers and Detmer was convicted of 39 counts in court yesterday. Kurt Barton faces life in prison for his fraud, and will do at least 30 years.

In addition to those two guys, Earl Campbell, and Chris Weinke, and former NFL quarterback Jeff Blake also lost big sums of money.

Not Earl Campbell, this has gone to far, the poor man is a cripple.

[Deputy Nutz]

http://grupthinkpro.s3.amazonaws.com/grupthinkliveed5ca774dda09b1f9671463d05eeb9d7

It is a shitty scheme.

[KYPack]

Not Earl Campbell, this has gone to far, the poor man is a cripple.

I know, man.

That is some low shit.

But the money?

She is gone.

[Deputy Nutz]

Maybe we can start a fund for former professional athletes that have gotten their asses handed to them in the fianancial markets.

[CheeseCityFan]

I don't understand how these guys are so easily parted from their money. Who was advising them on their investments? They would have been better off stuffing a mattress with cash.

[digitaldean]

Anyone can be swindled if you don't do your homework. It would make me violently ill to have that much scratch and then have it flushed by some conman.

[NewsBruin]

Baylor's men's bball coach lost seven figures from a Ponzi guy who was involved in AAU basketball. Dude had tens of college coaches and pro players as clients. Well, before he killed himself.

To me, it speaks to how isolated and sheltered folks in athletics are. Their only perspective is "friend-of-a-friend" relationships. I don't think most agents/handlers have the interest or knowledge in personal finance, and investing with garden-variety investment houses probably come off like having to shop at Wal-Mart.

[KYPack]

You got it NB.

I thought the Ponzi scheme was dead after the fall of Madoff. Boy, was I wrong. Financial schemes and theft has a very fat and happy future.

Look at these swindles over the last couple years:

Kurt Barton, Austin TX Triton Financial, 50 million phony investment and real estate holdings found guilty August 2011, will be sentenced to 39 years to life. Victims include several NFL players, Ty Detmer, David Akers among them.

Nevin Shapiro, Miami FL Capital Investments USA 900 million Shapiro claimed to be in “Grocery Distribution”, sold mainly greed driven investments. Pleaded guilty sentenced to 20 years in prison June 2011. May eventually be responsible for U of Miami football getting significant penalties, possible death penalty for football program

David Salinas Houston TX J. David Financial Group 55 Million phony bonds with huge gains. Dead at own hand by gunshot July 2011. Swindled NBA players and College basketball coaches, Lute Olson, Billie Gillispie, and Baylor's Scott Drew

Nicholas Cosmo Islip NY, of Agape World Inc. 390 Million Phony loans and financial frauds in 2009
Cosmo, aggressive and arrogant, may get 40 years, still hasn’t been sentenced after many delays.

Trevor Cook's Minneapolis MN. Oxford Global partners $190 million phony currency transactions 25 years sentenced in 2011

Also indicted after Cook, Patrick Kiley, former host of “Follow the Money” on CNN. Kiley advised some to use Cook’s scheme. Kiley sued some of the media for calling him a “Ponzi Scammer”, now awaiting trial.

Tom Petters Minneapolis, MN, Petters Group Worldwide 3.6 Billion various investment frauds 50 years federal prison sentenced in 2009

Close to 6 billion swindled in the last couple years, not Madoff, but a lot of cake, I'll tell ya. If any potential swindlers have a clue, look at the right side of the ledger. You will serve a long time in jail or die if you start one of these things. So, don't do it, willya?

[Fritz]

Geez, KY. You're making me re-think my plans now. And I was going to offer you this guaranteed money-making investment!

[Patler]

You got it NB.

I thought the Ponzi scheme was dead after the fall of Madoff. Boy, was I wrong. Financial schemes and theft has a very fat and happy future.

Look at these swindles over the last couple years:

Kurt Barton,....

Nevin Shapiro, ...

David Salinas ...

Nicholas Cosmo...

Trevor Cook's ...

Also indicted after Cook, Patrick Kiley, ....

Tom Petters ...

Close to 6 billion swindled in the last couple years, not Madoff, but a lot of cake, I'll tell ya. If any potential swindlers have a clue, look at the right side of the ledger. You will serve a long time in jail or die if you start one of these things. So, don't do it, willya?


You forgot to mention the Social Security program "sold" to us by our own government. :lol: :lol: