An Ohio man was charged Wednesday with wire fraud and money laundering after allegedly defrauding four NFL players out of hundreds of thousands of dollars in a horse racing enterprise.
According to Eric Heisig of the Cleveland Plain-Dealer, San Diego Chargers running back Danny Woodhead, Denver Broncos wide receiver Jordan Norwood and former Cleveland Browns receiver Chansi Stuckey and punter Reggie Hodges lost a combined $308,805 after investing with Jonathan Pippin in race horses.
Pippin allegedly used the money for personal matters, including visits to strip clubs, gambling and the purchase of a Cadillac Escalade.
The horse racing business the players believed they were investing in didn’t actually exist. Instead, Pippin kept the money for himself before being arrested in December.