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Buzzing on Yahoo Sports:
By The Sports Xchange April 18, 2013 2:20 AM
After federal regulators uncovered a potential $18 million investment scam last week, multiple federal agencies now are looking into investments sold to NFL and NBA players, Yahoo! Sports reported. Several pro athletes have either been contacted or have been asked to contact investigators from the U.S. Department of Justice, the FBI and the U.S. Securities and Exchange Commission. According to the report, the NFL Players Association has asked several players who have investments tied to Jade Management to contact FBI investigators. Jade had investment ties to Success Trade, which was ordered to stop fundraising last week after allegedly selling $18 million in fraudulent and unregistered promissory notes to 58 people, including some NFL and NBA players. Yahoo! Sports identified several pro athletes that bought promissory notes from Success Trade, including Detroit Pistons guard Brandon Knight,Cleveland Browns cornerback Joe Haden, San Francisco 49ers tight end Vernon Davis, and formerWashington Redskins running back Clinton Portis.