Former NFL Star Accused of $5.3M Ponzi Scheme Fraud

(Thechieftainspear) – A former NFL player has been sentenced to federal prison for orchestrating a Ponzi scheme that scammed investors out of more than $5.3 million, with some of the stolen funds reportedly going toward his gambling debts.

John Robert Leake, 43, of Plano, Texas—who previously lived in Marina del Rey—was sentenced in Los Angeles on Monday to two and a half years behind bars, according to the Department of Justice.

Leake, a former linebacker who played for the Green Bay Packers and Atlanta Falcons between 2005 and 2007, allegedly persuaded investors to hand over a total of $8.1 million between 2015 and 2020. Officials say his fraudulent scheme ultimately caused financial losses of over $5.3 million to six victims.

Prosecutors revealed that Leake falsely promoted investment opportunities in real estate, including high-end rental properties, as well as speculative ventures such as gold mining projects in Alaska and Ghana.

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He convinced investors to loan him money under the pretense that he would generate high returns through these ventures. However, authorities say Leake knowingly misled them, fabricating many of the investment opportunities.

The DOJ stated that Leake claimed to have personally invested substantial amounts in these projects to gain his victims’ trust. In reality, he lacked the personal wealth he portrayed and could not afford to repay the funds he solicited.

Rather than using the money as promised, Leake allegedly spent a portion on personal expenses, including rent, car payments, credit card bills, and gambling debts. He also used some of the funds to make small “interest” or “capital” payments to victims, a common tactic in Ponzi schemes to keep investors convinced that their money was growing.

Leake pleaded guilty in September 2024 to charges of wire fraud and transactional money laundering .

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Layla Hango

Layla Hango is a dedicated author at The Chieftain Spear, where she delves into stories that highlight cultural richness, social issues, and community empowerment. With a passion for storytelling that inspires and informs, Layla brings a fresh perspective to her writing. Her work resonates with readers seeking meaningful dialogue and a deeper understanding of diverse experiences. Through her articles, Layla aims to spark positive change and celebrate the strength of collective voices.

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