|01-24-2013, 09:33 PM||#1|
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Ex-Saints P Russell Erxleben Arrested On Ponzi Scam Charges
Former New Orleans Saints punter Russell Erxleben, who previously served a federal prison sentence for securities fraud, was arrested Thursday on new charges of running an illegal Ponzi investment scam that netted more than $2 million.
According to a federal indictment, the 56-year-old Erxleben scammed investors from 2005 to 2009 with fraudulent deals that promoted dealing in post-World War I German government bonds and a work of art purportedly by French painter Paul Gauguin.
Erxleben was sentenced in 1999 to seven years in federal prison for an investment scam that robbed investors of $36 million.
Erxleben still holds the record for the longest field goal in UT history -- 67 yards -- in 1977, a mark that also stands as an NCAA record Erxleben shares with two others. He was a first-round draft pick by the New Orleans Saints in 1979.
Source: Associated Press
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