Famous Sports Scandals
While sports stars make millions of dollars each year, they are prime targets of financial scams. CNBC took a look at some of the most famous scandals where sports stars are involved. Read on to see which scams made CNBC's cut, along with other scams.
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1. Mary Wong, Ponzi scheme
When Demorrio Williams (left) recommended to Atlanta Falcons superstar Michael Vick that he hire Mary Wong to act as his business manager, he jumped on the opportunity. But that was before Wong was indicted for allegedly stealing $3 million from eight of her clients in a Ponzi scheme; she told her client their money was being invested.
In 2009, Vick sued Wong for more than $2 million.
Wong was charged in August 2009 with securities, wire and mail fraud. She was sentenced in December 2010 to 63 months in prison, ordered to pay more than $3 million in restitution and serve three years supervised released.
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