David Akers lost $3.7 million in Ponzi scheme

AP

Former Eagles kicker David Akers, who recently signed with the 49ers, has made a lot of money over his career.  But he has lost a lot of it, too.

Akers told a federal jury on Monday that he was swindled out of $3.7 million in a Ponzi scheme from 2007 through 2009, according to Steven Kreytak of Statesman.com, via ThePostGame.com.

The term “Ponzi scheme” refers to an investment scam in which the money from later investors is paid to early investors, ultimately resulting in a group of last-in victims getting nothing back at all.

Akers placed the money with Triton Financial, which was run by Kurt Barton.

“I’ve had a lot of sleepless nights,” Akers said in court.  “As I said, this is my family’s future.  I said that to Kurt a lot of times. I said, ‘Man I’m trusting in you.'”

Also ensnared in the alleged scam were Panthers safety Sean Considine.  Considine and Akers were introduced to Barton by former NFL quarterbacking brothers Koy and Ty Detmer.  The 1990 Heisman Trophy winner, Ty Detmer lost more than $2 million.

Barton’s lawyers claim that the company simply made a series of bad business decisions, and that no laws were broken.  Barton opted not to testify; closing arguments are set for Wednesday.

49 responses to “David Akers lost $3.7 million in Ponzi scheme

  1. That’s why he and the Eagles couldn’t agree on a contract last year and he turned down their offer of an extension in November–he wanted them to recoup him for the money he lost.

  2. What the hell was Akers trying to do with the 3.7 mill? Jeez bud, you put that into a solid utility stock that pays 5-7% a year in dividends, or stick with safe mutual funds that pay 2-5%.

    Some simple math: 5% of 3.7 mil is 185,000$. 10 years of that is 1.8 mil.

    You deserved to be swindled, bud.

  3. Damn, that’s basically what a kicker makes in a few years. It’s not like hes Peyton Manning, Tom Brady or Brett Favre (last year) who make 1 million+ a game.

  4. Damn! Akers has been through a lot. Just a tough thing to hear. I don’t care how much he’s made in his career.

  5. Just once I want to hear about a guy who stuffed his money in a mattress and then we hear about how it was the greatest decision he ever made!

  6. People have to remember that Ponzi schemes can work on anyone. There is nothing wrong with investing. Ponzi schemers aren’t dumb people. They know how to sell. Look at Madoff and how he swindled many peoples. It’s ashame Ackers had to go through this; such a good guy.

  7. Akersvwasna real victim of Republicans and their inspired greed. That is how this happens. I blame Bush and his cronies and his criminal pals on Wll Street thatbown him and the entire Reublican Party.

  8. A fool and his money are not only soon parted, but usually pretty lucky to get together in the first place.

  9. The Ponzi family is getting a bit sick and tired of shouldering the bad publicity all of these years. They believe proper attribution for the scam should go all the way back to that old Egyptian, Pyramid.

  10. of all the people david akers took financial advice from… TY and KOY DETMER?!?!?!

    sorry David.. you get what you deserve…

    at least you didnt take the advice Lenny Dykstra was giving…

    I cant see a situation where the Detmers are talking about an investment and it end up sounding like a good idea… they are two of the dumbest looking dudes on the planet..

    “Aww shucks David.. this suuuure looks like a a goooood ideeeea, lets go over to Koy’s house and see if he shaved since the 99 season.. huhuhuhuh”

  11. He probably should have gone to a more reliable source to find a find a financial advisor than his former holder on placekicks. Next time he should go to Smith Barney or TIAA CREF or someplace like that.

  12. God you people are as dumb as Akers is for not realizing that he is still a football player. He doesn’t know how to invest, his leg has more value than all you schmucks posting how dumb he is. He is a football player with a lot of money… Do i need to say that again? He is a football player with alot of money. Another football player with a lot of money= Pacman, Vince Young, Donte Stallworth, Mike Vick, Dez Bryant and the list can keep going. He is a football player with alot of money… You ruh-tards.

  13. No one saw all these ponzi schemes coming. A lot of good people have been caught up in this mess and will all pay.

  14. theredbengal says:
    Aug 16, 2011 9:26 PM

    What the hell was Akers trying to do with the 3.7 mill? Jeez bud, you put that into a solid utility stock that pays 5-7% a year in dividends, or stick with safe mutual funds that pay 2-5%.

    Some simple math: 5% of 3.7 mil is 185,000$. 10 years of that is 1.8 mil.

    You deserved to be swindled, bud.
    ——————————————————–

    Really? I have 119 k that is gone forever with that same philosopy from expert finacial advisors, that placed my money in the hands of ENRON.

    ENRON… Look it up.

    That was a solid safe investment at the time, and not a ponzy scheme.

    If you are going to get F*cked, you are going to get F*cked.

    I feel for him.

  15. Wish I had over 3 million to invest…..
    Briang123, you’re outta your mind, Wall St. Is all Democrats, look who wins in that city and who’s inside every Democrat White House

  16. The solution to ponzi schemes is simple. First, completely deregulate the investment management business. Get the government out of all business while your at it so we can have some job growth in America. Then simply execute those who commit fraud. How many guys would risk their lives by being dishonest?

  17. @madd5555likesthedudes says: Aug 16, 2011 11:39 PM

    typical philly idiot. now in SF he wont fall for it again.

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    YOU ARE A DOUCHE BAG LOW LIFE! By your comment, it shows your make-up.

  18. If it’s too good to be true then stay away…

    Losing 3.7 million….Ouch…

    Follow the advice of the Detmers …double ouch…

    Obviously, not the sharpest cleat on the shoe…

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