Typically, Don't Trust Men With Neckbeards for Investment Advice

Typically, Don't Trust Men With Neckbeards for Investment Advice
February 16, 2011, 9:10 am
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The Eagles decided yesterday to place a transition tag on longtime kicker David Akers. This was a bit of a surprising move to most observers, mostly because the Eagles very rarely use the transition tag, and also because, well... Akers is a kicker. His agent wasn't thrilled about the move and still hopes that the two sides can come to terms on a more lucrative, longer-term deal for the kicker. Obviously every player wants to get as much money as possible, but one small anecdote in the Daily News' posting about Akers' financial situation caught our attention.

From the Daily News' article on Vick and Akers receiving tags:

Akers is known to have lost the bulk of his savings over the past few years in an investment recommended by close friend and former teammate Koy Detmer. Triton Financial of Austin, Tx., the company in question, has been sued by the U.S. Securities and Exchange Commission for defrauding investors. So a signing bonus, which would only come with a longer-term deal, might be important to him as a way of rebuilding his assets.

After reading that paragraph about Koy Detmer, we investigated a bit further. Turns out, Koy and his older brother Ty may have gotten themselves in a bit of trouble down in Texas.

From a January 4th article for Business Insider about the Ponzi scheme:

Last week, plaintiff's lawyers added retired NFL-ers Ty Detmer, his brother Koy Detmer, Chris Weinke and Jeff Blake to the list of defendants in a private lawsuit against Triton Financial, an investment firm that the SEC is investigating for an alleged $50 million ponzi scheme.

It's almost as if Koy was trying to bend people over and spank them. Or that time he made six figures in three days.

Let's just hope the SEC shows a little bit of mercy and allows Koy to keep his luxury automobile.

>>Four Former NFL Players Including Ty Detmer And Jeff Blake Charged For Participating In A Ponzi Scheme [Business Insider]

[virtual dap to @dhm for pointing us to the Daily News nugget]
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