Russell Erxleben, former NFL kicker, charged for Ponzi scheme
According to a federal indictment, the 56-year-old Erxleben scammed investors from 2005 to 2009 with fraudulent deals that promoted dealing in German government bonds and a Paul Gauguin painting.
Former Texas All-American and NFL kicker and punterÂ RussellÂ 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-oldÂ ErxlebenÂ 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.
According to the indictment,Â ErxlebenÂ used the investments to pay himself and previous investors.Â Erxlebenwas indicted on five counts of wire fraud, one count of securities fraud and two counts of money laundering. He faces up to 20 years in prison on each of the wire and securities fraud charges, and up to 10 years on the money laundering charge.
U.S. Magistrate Judge Mark Lane orderedÂ ErxlebenÂ held in custody until his next court appearance Jan. 28.ErxlebenÂ requested a court-appointed attorney but told the court he may also seek to hire private counsel.
ErxlebenÂ was sentenced in 1999 to seven years in federal prison for an investment scam that robbed investors of $36 million. The latest indictment saidÂ ErxlebenÂ did not disclose that conviction or the fact his still owed $28 million in restitution, to his later investors.
ErxlebenÂ still holds the record for the longest field goal in UT history â€” 67 yards â€” in 1977, a mark that also stands as an NCAA recordÂ ErxlebenÂ shares with two others. He was a first-round draft pick by the New Orleans Saints in 1979.