Jonathan Pippin—Horse-racing Scheme
Jonathan Pippin Allegedly Defrauded Several NFL Players — including three former Cleveland Browns — with a Purported Horse-racing Scheme
Jonathan Pippin, 29 and of Logan, Ohio, allegedly defrauded several NFL players with a purported horse-racing scheme, according to Documents filed in U.S. District Court in Cleveland.
The NFL players involved allegedly included former Cleveland Browns players Chansi Stuckey and Reggie Hodges, former Browns and current Denver Broncos wide receiver Jordan Norwood and current San Diego Chargers running back Danny Woodhead, according to said Documents.
Prosecutors in the case allege that Pippin used investor money to pay operating expenses and personal expenses including gambling, strip clubs and a Cadillac Escalade, U.S. District Court Documents report.
Jonathan Pippin Allegedly Defrauded Clients Out of through PJH Horse Racing Which Purportedly Solicited Investors under the Scenario that He Was Going to Purchase Ownership from a Wealthy Businessman
Jonathan Pippin allegedly defrauded NFL players through PJH Horse Racing, a company that he formed in 2011, according to Documents filed in U.S. District Court in Cleveland. Suspicions reportedly arose after NFL security contacted the U.S. Secret Service, Internal Revenue Service and the Northern Ohio Money Laundering Task Force.
Jonathan Pippin, in 2011 and 2012, allegedly ran his $308,805 scheme by soliciting people to invest in PJH under the auspices that he was working with a wealthy businessman and that soon he was going to purchase ownership rights from said businessman, according to Court Documents.
Jonathan Pippin, who has been charged with two counts of wire fraud and one count of money laundering, in reality had no relationship with the aforementioned businessman who was identified only as M.R. Pippin allegedly went so far as to mislead investors by creating a fake e-mail address for M.R. and would purportedly use it to communicate with investors.
The Peiffer Wolf Securities Lawyers Often Assist Investors
The Peiffer Wolf securities lawyers assist investors who lose money as a result of investment fraud. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud are encouraged to contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.