A former football player turned investment adviser has been sentenced to 40 years in prison for his role in a scheme that cost investors millions of dollars after they entrusted him with their life savings.
Merrill Robertson Jr., 37, who played for the University of Virginia and briefly in the National Football League, was found guilty in August of 15 counts of conspiracy, mail, wire and bank fraud, and money laundering.
He is accused of using his family, church, school and football connections to solicit people to invest their retirement money with him. Robertson and a co-conspirator allegedly collected more than $10 million and lost nearly $9 million of it, spending it on cars, vacations, spas, educational expenses for family members, and a luxury suite at a football stadium. One woman suffering from dementia lost $4 million.
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