Ex-Vikings TE Stu Voigt indicted in alleged Ponzi scheme
Voigt, whose NFL career spanned from 1970 to 1980, is accused of defrauding investors by using a real estate scheme, along with another man, Jeffrey Gardner. According to the AP, Voigt was told in 2012 that he was being investigated by the U.S. Department of Justice of bank and wire fraud.
From the AP:
According to the indictment and court documents, between 2005 and 2007 Gardner and Voigt raised money from investors in connection with Gardner's business, Hennessey Financial. Investors were promised returns of between 10 percent and 20 percent annually. But the indictment alleges Gardner, Voigt and others misrepresented Hennessey's financial circumstances to investors.
Prosecutors allege that when Hennessey was failing, Gardner and Voigt created new companies, opened bank accounts in the names of new companies, transferred funds from Hennessey accounts and took other steps to hide income and assets from investors, creditors and the government.
Voigt's chages include conspiracy to commit mail fraud, mail fraud, bank fraud and making false statements, according to the AP.
Voigt played at Wisconsin before being drafted by Minnesota in 1970. He played in three Super Bowls during his career and spent time as color commentator on the radio for the Vikings after he retired.
In 2013, former Viking Ron Yary sued Voigt and accused him of fraudulently getting friends to make high-risk investments. The lawsuit was settled in 2013.
- Molly Geary