Jonathan Pippin—Horse-racing Scheme

Cleveland stockbroker fraud lawyerJonathan 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.

Peiffer Wolf (1297 Posts)

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.