To many football and movie fans, Daniel “Rudy” Ruettiger is a hero, an
ordinary kid who overcame extraordinary odds through hard work and determination
to become part of Notre Dame folklore.
The Securities & Exchange Commission, however, says Rudy Ruettiger has
grown up to become a penny stock promoter and scammer. The former Notre Dame
walk-on has agreed to pay $382,866 to resolve the SEC’s claim that he
participated in a pump-and-dump, fraudulently inducing investors to bid up the
stock of his sports drink company, Rudy Nutrition. He did not admit or deny the
allegations.
According to the SEC complaint filed in federal court in Las Vegas, Ruettiger’s
company sold only a small amount of a sports drink called “Rudy” and instead the
company served as a vehicle for a 2008 pump-and-dump scheme that generated $11
million in illicit profits. The SEC revoked registration of the stock of Rudy
Nutrition in 2008.
“Investors were lured into the scheme by Mr. Ruettiger’s well-known,
feel-good story but found themselves in a situation that did not have a happy
ending,” said Scott Friestad, associate director of the SEC’s enforcement
division, in a statement. “The tall tales in this elaborate scheme included
phony taste tests and other false information.”Shame on you Rudy!!
Watch Rudy get the Sack!
Watch This Free Video - http://videoforward.com/video.php?video=69325
No comments:
Post a Comment