Former Philadelphia Eagles' Linebacker Found Guilty for Fraud Once Again

Posted on November 18th, 2019 at 2:01 PM
Former Philadelphia Eagles' Linebacker Found Guilty for Fraud Once Again

From the Desk of Jim Eccleston at Eccleston Law LLC:

A federal judge has found former Philadelphia Eagles' linebacker guilty for a second time of defrauding his former coaches and other investors.

According to a recent InvestmentNews article, Merrill Robertson Jr. and Sherman C. Vaughn Jr. owned Cavalier Union Investments and raised more than $10 million from investors. They promised to invest the money in diversified holdings. Instead, the two spent nearly $6 million on personal expenses such as cars, family vacations, repayment of the mortgage and credit-card debt, luxury goods, clothing, entertainment, educational expenses for family members, and a luxury suite at a football stadium.

According to a BrokerCheck, Robertson was neither a registered representative nor a registered investment adviser. Robertson was convicted on fraud charges for the first time in August 2017 and was sentenced to 40 years in prison in 2017. Earlier this year, a federal appeals court vacated that conviction and remanded the case to the district court. He will be sentenced for a second time on January 3. Vaughn previously pleaded guilty in the criminal case against the two men.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, merrill robertson jr, sherman c vaughn, fraud, brokercheck

Return to Archive

TESTIMONIALS

Previous
Next

This was the best of all possible outcomes and I cannot thank you and the team enough.

Michael S.

LATEST NEWS AND ARTICLES

August 8, 2022
SEC Files Suit Against Georgia Advisor Over Misappropriation of Client Funds

The Securities and Exchange Commission (SEC) is filing suit against a Georgia-based advisor, Christopher Burns, who allegedly misappropriated client funds.

August 5, 2022
SEC Fines RIA $5.8 Million Over 12b-1 Fee Infractions Tied to Wrap Accounts

The Securities and Exchange Commission (SEC) has imposed a $5.8 million fine against Private Advisor Group over 12b-1 fee violations tied to its wrap fee program. 

August 4, 2022
North Dakota Regulators Seek to Close Down Advisory Firm Selling Crypto and Weed Products

The North Dakota Securities Commissioner’s office is seeking to shut down a small West Fargo-based registered investment adviser (RIA) after its owner allegedly violated state securities laws and improperly took custody of $17.8 million in client funds beginning in 2017.