A Houston woman by the name of Peggy Ann Fulford, 58, has been arrested in New Orleans after swindling former NFL star Ricky Williams and other athletes out of millions of dollars by posing as a financial advisor who had their best interests at heart.
Fulford was charged with wire fraud, mail fraud, interstate transportation of stolen property and money laundering. According to reports, Fulford lied about her education and experience, telling her athlete clients that she was a Harvard-educated money manager who made millions on Wall Street through buying and selling hospitals, and dealing in real estate in the Bahamas. Unfortunately, she is none of those things. The athletes were none the wiser, and before they knew what hit them, she used her access to their funds to divert their money through dozens of bank accounts and spent it on her own personal expenses.
Fulford gained the athletes’ confidence by never requesting payment and ensuring them that she “just wanted to protect them” from losing their money. Despite being hired to invest their money and pay their taxes, Fulford laundered the money through other accounts and spent the cash on jewelry, luxury cars, real estate and trips.
Ricky Williams and 3 other athletes were victims of Fulford. If convicted of either the mail or wire fraud charges, Fulford faces up to 20 years in federal prison. If convicted of money laundering and the interstate transportation of stolen property charge, she faces a minimum of 10 years.
It’s sad that we tell athletes to hire a professional to look over their money, only for them to be scammed by the very person who is supposed to help them. Hopefully Peggy Fulford gets what is coming to her.
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