Business/Finance

Ex-adviser to athletes sentenced in $3M fraud case

Tuesday, December 21, 2010

A former financial adviser to Michael Vick and several other NFL players has been sentenced to more than five years in prison for stealing more than $3 million from the players in a Ponzi scheme.

U.S. Attorney Deborah Gilg said Mary Wong of Omaha was sentenced Monday to 63 months in prison for securities fraud. Wong pleaded guilty in September.

Wong also was ordered to pay more than $3 million in restitution and serve 3 years supervised released.

Prosecutors say Wong worked out of her Omaha home and purported to sell investments in luxury properties in Arizona, Tennessee and Michigan along with private jets and other investments. Prosecutors say many investments never existed. Instead, they say, Wong used the money to support her other businesses and a lavish lifestyle.

(Copyright ©2014 by The Associated Press. All Rights Reserved.)

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ponzi scheme, michael vick, business/finance
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