Russell Erxleben jailed on fraud charges

Finally, a traditional story of fraud we can all get behind.

This one doesn’t involve fake dead girlfriends which are actually guys (not that there’s anything wrong with that).

This one involves former Saints kicker Russell Erxleben, $2 million and fake Gauguin paintings.

(Exhales)

Ah, that’s better.

According to Jazmine Ulloa of the Austin American-Statesman, Erxleben was indicted on five counts of wire fraud, one count of securities fraud and two counts of money laundering on charges of runninng a Ponzi scheme that generated more than $2 million.

He will remain in jail until a hearing next week, after being rule a flight risk by U.S. Magistrate Judge Mark Lane.

The indictment said Erxleben used several companies to promote investment in ventures including “pre-World War II German government gold bearer bonds” and fake paintings by the French post-Impressionist artist Paul Gauguin.

Of course.

Erxleben pleaded guilty to federal conspiracy and securities fraud charges in 1999, after scamming investors out of $30 million.

We now return you to your previously scheduled Jerry Springer show.

Photo credit: Saintscards.net