Former Professional Football Player Charged for Running $10 Million Fraud
Washington D.C., Aug. 10, 2016 — The Securities and Exchange Commission allegedly charged Merrill Robertson Jr., a former player for the Philadelphia Eagles, with defrauding investors, including coaches he knew from his time playing football for the Fork Union Military Academy and the University of Virginia.
The SEC’s complaint, filed in federal court in Richmond, Virginia, charged Robertson, Sherman C. Vaughn Jr., and the company they co-owned, Cavalier Union Investments LLC. According to the complaint, nearly $6 million of the more than $10 million funds raised from investors was diverted to pay for personal expenses and were used to repay earlier investors.
Trustee Established Presumption of Fraud under Section 548(a)(1)(A) to Recover the Alleged Transfer as Fraudulent
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Defendant Successfully Rebuts the Presumption of Insolvency During the Preference Period
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Preference Actions Filed in Standard Register Company
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Trustee Failed to Demonstrate that a Genuine Issue of Material Fact Exists as to the Debtor’s Solvency on the Transfers
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Michigan Court – Release of a Security Interest and Receipt of Payment By the Defendant is a Contemporaneous Exchange, Even though the Release Occurred Weeks Before the Payment was Made
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