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David Akers lost $3.7 million in Ponzi scheme

David Akers, Andy Lee 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.

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49 Responses to “David Akers lost $3.7 million in Ponzi scheme”
  1. seabreezes51 says: Aug 16, 2011 9:19 PM

    Too greedy.
    That is the only reason anyone gets Ponzied.
    P.S. Detmers SUCK

  2. nfldepthcharts says: Aug 16, 2011 9:19 PM

    Peyton Manning “idiot kicker” blast in 3…2…1….

  3. derekjetersmansion says: Aug 16, 2011 9:23 PM

    Ugh. That picture kills me.

  4. crunation says: Aug 16, 2011 9:25 PM

    That’s messed up.

  5. frankrizzo51 says: Aug 16, 2011 9:25 PM

    It isn’t that hard. Invest yourself. READ. You’re on a plane at least eight weeks a year. Use it to read.

  6. eaglebobby says: Aug 16, 2011 9:25 PM

    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.

  7. cw3214 says: Aug 16, 2011 9:25 PM

    Man, this guy was dealing with a lot. No wonder he missed those two field goals against the Packers.

  8. lifetimeskinsfan739 says: Aug 16, 2011 9:26 PM

    Poor guy

  9. captainwisdom8888 says: Aug 16, 2011 9:26 PM

    I wouldn’t follow a Detmer if he had money falling out of his pockets…

  10. 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.

  11. mikebrowndie says: Aug 16, 2011 9:27 PM

    really nothing to say but that sucks

  12. packersareandwillalwaysbebetterthanthebears says: Aug 16, 2011 9:27 PM

    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.

  13. cubano76 says: Aug 16, 2011 9:29 PM

    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.

  14. daburgher says: Aug 16, 2011 9:33 PM

    this was on yahoo all day long.. and you post it now.. running out of stories are we?

  15. xpensivewinos says: Aug 16, 2011 9:36 PM

    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!

  16. ninjapleazee says: Aug 16, 2011 9:37 PM

    Fonzi scheme

  17. rollerino1 says: Aug 16, 2011 9:39 PM

    Ouch.

  18. hobartbaker says: Aug 16, 2011 9:40 PM

    Ponzi….is that Italian?

  19. wwwfella says: Aug 16, 2011 9:40 PM

    no one deserves this to happen to them

  20. j0esixpack says: Aug 16, 2011 9:48 PM

    So you’re saying the Ponzi was fake?

  21. icelovinbrotha215 says: Aug 16, 2011 10:04 PM

    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.

  22. drgfri says: Aug 16, 2011 10:07 PM

    If something seems too good to be true, it probably is….

  23. briang123 says: Aug 16, 2011 10:07 PM

    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.

  24. rambo08 says: Aug 16, 2011 10:11 PM

    Wow. That’s got to sting losing so much money. Hopefully he’s able to rebound.

  25. philahitman says: Aug 16, 2011 10:19 PM

    Beleive it or not but get rich quick schemes can back fire.

  26. nomoreseasontix says: Aug 16, 2011 10:26 PM

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

  27. hobartbaker says: Aug 16, 2011 10:51 PM

    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.

  28. joaquinfenix says: Aug 16, 2011 11:10 PM

    Young Americans are set to lose trillions in this little Ponzi scheme called Social Security.

  29. rickycubane says: Aug 16, 2011 11:13 PM

    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”

  30. drbob117 says: Aug 16, 2011 11:28 PM

    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.

  31. doe22us says: Aug 16, 2011 11:29 PM

    Anyone that promises you returns of 12% or more run the other way son

  32. madd5555likesthedudes says: Aug 16, 2011 11:39 PM

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

  33. wetdentist says: Aug 16, 2011 11:48 PM

    @ninjapleazee Fonzi Scheme would make an awesome band name

  34. kevpft says: Aug 16, 2011 11:49 PM

    “I have $4 million in the bank… but here’s my chance to get RICH!”

    Oh, my head hurts.

  35. claymatthewsisonsteroids says: Aug 16, 2011 11:56 PM

    Is one of the NFL owners in charge of this ponzi-scheme?

  36. starfan79 says: Aug 17, 2011 12:23 AM

    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.

  37. lildon96 says: Aug 17, 2011 12:26 AM

    Joe Banner strikes again!

  38. poodawg says: Aug 17, 2011 1:07 AM

    Ponzi was always so cool on Happy Days. It’s depressing to know he became such a crook.

  39. rajbais says: Aug 17, 2011 1:43 AM

    Crap, that sucks!!!

  40. botchedextrapoint says: Aug 17, 2011 2:45 AM

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

  41. raiderspride says: Aug 17, 2011 2:58 AM

    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.

  42. skoobyfl says: Aug 17, 2011 5:31 AM

    Buy bonds.

  43. blackqbwhiterb says: Aug 17, 2011 7:39 AM

    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

  44. bobbyhoying says: Aug 17, 2011 8:22 AM

    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?

  45. eagleempire says: Aug 17, 2011 8:29 AM

    @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.

  46. bturner032002 says: Aug 17, 2011 8:47 AM

    He couldve bout 24 $150k houses, rented them out for $1k a month each and his family would have $24k a month for as long as they wanted.

  47. jimyritz says: Aug 17, 2011 9:03 AM

    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…

  48. thephantomstranger says: Aug 17, 2011 11:14 AM

    The same thing happened to my neighbor. He was a really cool guy. Always wearing a leather jacket and he loved riding his motorcycle. He got caught up in a Fonzie scheme.

  49. madd5555likesthedudes says: Aug 17, 2011 11:26 PM

    eagleempire = trashy idiots.

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