Danny Woodhead, Jordan Norwood among four players allegedly defrauded by Ohio man

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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.

17 responses to “Danny Woodhead, Jordan Norwood among four players allegedly defrauded by Ohio man

  1. “Pippin allegedly used the money for personal matters, including visits to strip clubs, gambling and the purchase of a Cadillac Escalade.”

    And he probably just wasted the rest.

  2. “Pippin allegedly used the money for personal matters, including visits to strip clubs, gambling and the purchase of a Cadillac Escalade.”

    I’m guessing the Escalade has spinners on the wheels.

  3. Don’t invest in horses from two bit salesmen, don’t even give access to your money to NFL approved financial advisors, educate yourself and invest your money in safe traditional investments. If I was a player rule No 1 don’t trust anyone. I rather be burnt by shares, mutual funds in invested in personally than be taking by these scam artists in sheep clothing.

  4. Obviously an honest mistake. I’m sure the guy meant to buy a horse, but time probably got away. Happens to the best of us.

  5. So a group of football players already making a tremendous living took the wildy risky route of investing in race horses? I am sorry but if have money don’t be greedy. They could have all invested this money into a portfio bringing them 7% a year. It’s not like this hasn’t happened to at least 100 other players. At some point come on people

  6. Loretta Lynch weighed in after a meeting with Bill and decided Mr. Pippin had no intent to defraud anyone ….. case closed.

  7. “And he probably just wasted the rest”

    — – – – – – – – – – – – – – – – – – – – – – – – – – – – –

    Damn, you beat me to the punch. LOL

  8. On the bright side, they probably would have lost their money eventually even if he really had invested the money in race horses.

    People see all the big money being paid out to the owners of Triple Crown horses, but the fact is the vast majority of people who own race horses lose money doing it.

    I have a friend who buys race horses with his father. They’ve been doing it for years and according to him they lose money almost every year. They’ve had a few decent horses over the years, allowance level horses, and some years they do alright, but even those years you’re talking about breaking even or eeking out a small profit.

    They’re fine with that though, because they enjoy doing it. They don’t do it for a living (they own a very successful business together), they do it as hobby. The analogy my friend always uses is that it’s like owning a boat. You know it’s going to cost you some money, but you do it because you enjoy it.

  9. Misunderstanding: horse racing enterprise = I needed more money to play the ponies 😬

  10. He won’t face any jail time, President Obama and Loretta Lynch will say that it was a non-violent offense, so why put him in jail. While we’re at it let’s release a bunch of drug dealers, and gang members they are non violent neither. Don’t know why Jordan Norwood, is getting caught up in these schemes, he truly doesn’t make that much anyways not much more than the vet minimum, it’s alot to me but for a nfl player its pocket change

  11. Memo to everyone- investing in race horses is a gamble even if you really own one and should be left only to the ultra-knowledgeble or wealthy. Also, don’t trust anyone with your money. You have to be SO careful. Even brokerage houses cheat their clients all of the time- sometimes even legally. Banks only do what’s in their best interest. Double check and triple check everything. Don’t put more than 25% of your money in any one place or brokerage acct. Don’t put more than 5% of your money in any one investment unless it’s your own business that you own and run. Scammers and scoundrels are everywhere.

  12. tjg342011 says:
    Jul 14, 2016 10:30 AM
    He won’t face any jail time, President Obama and Loretta Lynch will say that it was a non-violent offense, so why put him in jail. While we’re at it let’s release a bunch of drug dealers, and gang members they are non violent neither…

    This must be the same guy I heard at 7-11 the other night, both to his buddy and anyone within earshot: ‘…damn! Price of a Coors 30 Pack up a buck! Friggin’ Obama!”

    On the bright side, I always go Jim Rome for my pony purchases.

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