Tuesday, June 30, 2015

Vick suing woman linked to Ponzi scam

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OMAHA, Neb. - Federal prosecutors have charged a woman who once advised Michael Vick and several other NFL players with stealing $3 million from eight victims in a Ponzi scheme.

Prosecutors say Mary Wong worked out of her Omaha home and purported to sell investments in luxury properties in Arizona, Tennessee and Michigan along with private jets and other investments. But according to the indictment unsealed yesterday, Wong used the money she raised to support her other businesses and a lavish lifestyle for herself, her business partners and clients.

Prosecutors say some money from new investors was used to pay past investors, as in a Ponzi scheme.

Wong has not been registered to sell securities investments since August 2004, according to court documents, and in September 2007, she was permanently barred from trading securities on the New York Stock Exchange.

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  • Vick sued Wong in January seeking to recover at least $2 million from her; that case is still pending in U.S. District Court in Norfolk, Va.

     

    Associated Press
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