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Author Topic: SEC charges ex-NFL player with fraud  (Read 2726 times)

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SEC charges ex-NFL player with fraud
« on: September 25, 2007, 09:31:16 AM »
The U.S. Securities and Exchange Commission on Monday accused former National Football League player Dwight Sean Jones of refusing to let the agency examine his investment advisory business records.

The SEC alleged in an administrative complaint that the former defensive player and his firm, Amaroq Asset Management, repeatedly failed to make documents available for SEC officials to review.

Jones played for the Green Bay Packers, Houston Oilers and Los Angeles Raiders from 1984 until the 1996 season. He managed some $44 million in assets for his clients but never produced any records, the SEC said.

Jones gave the agency inconsistent stories, the SEC alleged, saying that Amaroq's records had been destroyed in a fire, were on a moving truck, or had inadvertently been sold by a storage company.

According to SEC documents, Amaroq continued to maintain a Web site "touting its wealth management programs" until mid-2007 even though Jones said Amaroq stopped business in 2004. Attempts to contact Jones for comment were not immediately successful.
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