Another financial disaster for pro some pro athletes. And another Ponzi scheme…
Omaha resident Mary Wong duped Michael Vick and others, running a Ponzi scheme. She was apparently helped by Demorrio Williams of the Kansas City Chiefs and twins Josh Bullocks of the Chicago Bears and Daniel Bullocks of the Detroit Lions.
AP: Federal prosecutors have charged a woman who once advised Michael Vick and several other football players with stealing $3 million from eight victims in a Ponzi scheme.
Prosecutors say the woman, Mary Wong, worked out of her Omaha home and purported to sell investments in luxury properties in Arizona, Tennessee and Michigan along with private jets and other investments.
According to the indictment unsealed Monday, Ms. Wong used the money she raised to support her other businesses and a lavish lifestyle for herself, her business partners and clients. Prosecutors say some money from new investors was used to pay past investors, as in a Ponzi scheme.
Vick is suing Wong to get $2 million back. Let’s hope he gets it — the man needs the money.
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