Q101 Chicago's Alternative -WTF?: Willie Feels Thrill of Victory, Agony of Defeat » Q101 Chicago's Alternative -


FEATURED STORIES no image

Published on December 20th, 2011 | by

0

WTF?: Willie Feels Thrill of Victory, Agony of Defeat

Wow what a week for the once speedy Willie Gault from your Superbowl Champion Bears (no need in mentioning the year anymore, right?  We all know it.  It’s not like there has been more than 1 cotton pickin Super Bowl Champ in this town!):  The man who routinely blew past helpless d-backs only to subsequently drop the bomb is back to his old ways of experiencing highs and lows almost at once.  Just days after having his stolen Super Bowl ring found at an LA pawn shop and returned to him by police, now the heat’s back at #83’s door…only this time they want to talk to him!  Regardless of his stone hands, Q101 loves all things ’85 Bears, so Willie, godspeed on breaking the government’s tackle (unless, of course, you are a thief, and then, well, we hope you’re as fast as ever…cause there will surely be some dudes who want to, um, chat with you).  Check this out:

The SEC said Willie Gault, the former Chicago Bears wide receiver and Olympic track star, is among six people charged with artificially inflating the stock price of a heart-monitoring company.

The agency said the company, Heart Tronics, repeatedly announced millions of dollars of sales that didn’t exist. The company installed Gault as a figurehead CEO to “generate publicity,” according to the SEC, while behind the scenes the company was controlled by a California lawyer who hired stock promoters to tout Heart Tronics shares on the Web.

The lawyer, Mitchell J. Stein, made nearly $8 million from “secret trades,” the SEC said. In a lawsuit the SEC filed against Stein, Gault and others, the SEC said Stein “orchestrated a brazen series of frauds designed to inflate the price of Heart Tronics stock so that he could profit from selling its securities to investors.”

READ MORE HERE

Source:   http://www.chicagotribune.com/business/breaking/chi-sec-sues-former-bears-wide-receiver-willie-gault-20111220,0,3615285.story

Tags: , , , ,


About the Author



Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Back to Top ↑