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Rudy – Securities Fraud

Posted on December 17, 2011December 16, 2011 by Doug Cornelius
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Who cares how much effort I put in, if it doesn’t produce any results.

In a sad turn of event, Daniel “Rudy” Ruettinger was charged by the SEC with securities fraud. Ruettiger and 10 of the scheme’s other participants have agreed to settle the SEC’s charges without admitting or denying the allegations. (I guess they can still do that if you’re not in front of Judge Rakoff.)

I guess he thought his effort was better spent pumping up the stock of the penny-stock company that ran his sport drink company. I guess I have to cross Rudy off the list of inspirational sports movies to show my kids.

Sources:

  • Litigation Release No. 22198
  • SEC Complaint
  • SEC Charges Daniel “Rudy” Ruettiger and 12 Others in Scheme to Pump Stock in Sports Drink Company

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