A former trainer for the Seattle Supersonics admitted that he defrauded 30 people out of approximately $4 million and was sentenced last Thursday to 50 months in prison. Stephen Bruce Gordon admitted before the U.S. District Court in Seattle that he lied to approximately 30 people in order to bilk them out of about $4 million.
While acknowledging his notable achievements in the realm of professional basketball training, the judge said that Gordon used his position of prominence and connections to people in the industry to steal money from unassuming victims.
To accomplish his scheme, the U.S. Attorney stated that Gordon had repeatedly lied to his customers, at one point even having one of his associates impersonate a government official.
According to court documents, Gordon’s schemes took place between 2007 and 2013. Many of his schemes centered around basketball, including a fraudulent investment opportunity he solicited to investors that would supposedly bring an NBA franchise to Seattle.
Like many who commit fraud, Gordon was convicted for using his position of trust to manipulate and take advantage of his victims. Before you invest, remember to do your research. Make sure your broker/financial advisor and the investment is registered, watch out for the common signs of investment fraud, and contact Meyer Wilson for a free case review if you think this happened to you.