Akers says he lost $3.7 million
The Philadelphia Daily News - Eagletarian
Akers says he lost $3.7 million
Daily News staff
David Akers could no doubt kick himself.
The financial troubles of the former Eagles placekicker who is now with the 49ers have been previously reported, but Monday he testified before a federal grand jury in Austin, Texas, that he lost $3.7 million in an alleged Ponzi scheme from 2007 to 2009.
Akers claims he got bad investment advice from Kurt Barton, the former chief executive of Triton Financial.
“I’ve had a lot of sleepless nights,” Akers told the Austin American-Statesman. “This is my family’s future. I said that to Kurt a lot of times. I said, ‘Man I’m trusting in you.’ ”
According to the NFL salary database compiled by USA Today, Akers earned $12.1 million during his career with the Eagles, topped by $3.37 million in 2005. That includes a $1 million signing bonus.
Akers, 36, signed a 3-year deal with the 49ers last month.
Prosecutors contend Barton lied to investors while building a $50 million Ponzi scheme.
Akers said that he invested in real estate purchases and in a health club Triton was developing in San Antonio. He initially ponied up $75,000 to purchase a plot of land that could be used to build a small stadium or an amphitheatre.
Akers said he also gave Barton money for an insurance company that was never purchased, for an athletic center Triton rehabilitated in San Antonio and for land for another athletic center. According to testimony, the second purchase never happened but Triton told investors that it did.
Barton, however, claims he made a series of bad business decisions but did nothing illegal.
Safety Sean Considine — now with the Jaguars — and quarterbacks Koy and Ty Detmer are former Eagles who also claim they lost money in the venture.
Reportedly, it was Koy Detmer, playing with the Eagles at the time, who introduced Barton to Akers and Considine. Koy and Ty Detmer would both work for Triton after their playing careers.
Barton faces numerous criminal charges, including conspiracy, wire fraud, securities fraud and money-laundering.
Considine is now on the Panthers.— NCNovaguy- If you make that kind of dough, put more than half in Tax-exempt government obligation bonds, or in Treasuries and Ginnie Mae's. If you want to play with other half, that's your business although that needs to be diversified. No more than 5% of his "at risk" in any one investment.— tr88
- If it's too good to be true, it usually is.— ej610
- Don't worry David, when the eagles are in the Super Bowl and our rookie kicker misses a field goal that could win it in the final seconds, you'll feel much better.— ej610
- I wouldn't trust Akers with that kick either. — auntesther
- Is if Akers hasn't made big kicks for the Eagles before. Are you blaming Akers for the loss to the Packers too? I personally put that one on the team, or you could spread the blame around, and even put some on Vick's underthrown ball into the endzone to end the game, when he had other open options... — PhilliefaninAZ
- What part of my comment did I say I blamed Akers? I was referring to the way the eagles treated him and basically forced him out. BTW - I don't believe in adding up missed field goals and saying we could have won with those points. All events after the first kick would have been different. We could have won, or we still may have lost.
— ej610 - CharlieGarner25, you are an idiot. How is Akers losing money in a scam Andy Reid's fault? Akers was the best kicker the team ever had; does Reid get credit for that? As far as being greedy: If Akers got scammed, bad on him for not following his money. But let's not fault him for trying to make money. Investment is what creates wealth for everybody. It's the mothers milk of capitalism. If those who have money don't invest their money, none of us work.— PhillyfaninMD
Athletes losing money is Like Airline Pilots both have losing records— Kevinmac- MDPhillyfan, EVERYTHING is Andy Reid's fault, according to CharlieGarner25. That includes the weather. You'll see his identical posts on several articles.— dlscholt
- Love David Akers....but like every other citizen, he needed to be much more personally responsible for his money.— kelprod2
- @CharlieGarner, what does Aker's losing his money to a ponzi scheme, have to do with whether or not Andy Reid winning a SB? What a hateful bitter person you are.— charmaine
- Dope!— STEPHEN1988
- Philly.com Please Put on The Idiot Filter so we don't have to
see CharlieGarner25's dumb posts anymore. Please Philly.com !— dmanphilly - Why would Akers ever beleive anybody who drove an old beat-up caddy like Koy drove anyway !!! Koy live out of his car half the time !— thin slice of life
