Found December 20, 2011 on The Sports Bank:
TEAMS: Chicago Bears
Former Chicago Bears wide receiver Willie Gault, an Olympic track star, finds himself today among a group of people charged with artificially inflating stock prices for a heart-monitoring company. The SEC (and again, we’re talking about the U.S. Government agency regulating the exchange of securities i.e. stocks and bond trading is within it’s jurisdiction, not the Southeastern college football conference) is bringing Gault and company up on charges. Financial tomfoolery is one thing, but using a company that’s focused on helping to keep you alive to do it- that’s really low. From the Wall Street Journal blog: The agency said the company, Heart Tronics, repeatedly announced millions of dollars of sales that didn’t exist. The company installed Gault as a figurehead CEO, according to the SEC, while behind the scenes the company was controlled by a California lawyer who hired stock promoters to promote Heart Tronics shares on the Web. The lawyer, Mitchell J. Stein, made nearly $8 mill...
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