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Referee Cronie
He finally got what he deserved. I wonder who else is looking over their shoulder?
Friday, November 30, 2007 Local man admits to Ponzi schemeAtlanta Business Chronicle Print Article Email Article Reprints RSS Feeds Add to Del.icio.us Digg This Atlantan Travis E. Correll pleaded guilty Friday to multiple fraud charges related to a $100 million "Ponzi" scheme. From late 2001 to December 2005, Correll operated an investment program known as "Horizon Establishment," which offered high monthly rates of return to investors. Correll lied and said he would invest their principal in high-yield programs with foreign banks, which were regulated differently than United States financial institutions and could pay extraordinarily generous returns. Correll promised investors a monthly return on their investments of between 4 percent and 8 percent, and ultimately he refunded their invested principal. In less than five years, he took in more than $100 million in investment money from private investors. Almost from the beginning, Correll operated Horizon as a Ponzi scheme, using investment money received from later investors to pay substantial returns to some of the early investors. Federal investigators estimate Correll recirculated $71 million to investors, keeping about $29 million. But the money was never invested with any foreign banks and Correll used much of the money for his own business and personal expenses. Correll will be sentenced Feb. 6. He faces up to 20 years in federal prison and a maximum fine of $250,000. "This defendant is yet another criminal who used a Ponzi scheme to scam millions from investors who thought they were making valid investments," said U.S. Attorney David E. Nahmias. "We continue to warn potential investors to take every step to check out where their hard-earned money is going. Correll will now be going to federal prison." |
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http://www.sportingnews.com/yourturn...c.php?p=351344 I'm not sure I totally agree with the premise of the article, however.
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9-11-01 http://www.fallenheroesfund.org/fallenheroes/index.php http://www.carydufour.com/marinemoms...llowribbon.jpg |
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The problem for college basketball is that if game officials -- beyond Correll -- were involved in this circumstance at any level, and if it is determined to be illicit, the integrity of the sport could be called into question. Even if an official were considered simply to be an investor, his involvement would indicate an absence either of integrity or intelligence. Neither would reflect well on the game. Substitute the word "politicians" for "officials" and it would have some validity.
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Yom HaShoah |
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Let me see if I have this straight. An official may have been duped into investing in an illegal scheme. Therefore, he doesn't know how to correctly call traveling.
Yeah - that makes sense. I guess to be a sportswriter, you have to be dumber than a fifth grader, or Billy Packer. ![]()
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Yom HaShoah |
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I'll bet Correll's favorite pregame advice was "Trust your partner". ![]() |
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Yom HaShoah |
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