Politics & Government
Former NFL Star Willie Gault Sued by SEC; Stock Fraud Alleged at Studio City-based Heart Tronics
Willie Gault, gifted wide receiver on the Super Bowl Championship Chicago Bears, and his Heart Tronics business partners are charged in stock-pumping scheme.
According to Bloomberg.com, Willie Gault, the former NFL wide receiver and Olympic sprinter, was accused by the Securities and Exchange Commission of taking part in a scheme to artificially inflate the stock of a company that he helped manage, Studio City-based Heart Tronics.
The SEC accuses the Heart Tronics executives of fraudulent practices in which the defendants repeatedly announced millions of dollars in phony sales orders for its heart-monitoring devices to convince investors to buy the company's stock.
Named as defendants along with the 51-year old Gault, who played on the Chicago Bears team that won the 1985 Super Bowl, was his co-chief executive officer J. Rowland Perkins, attorney Mitchell Stein, and Stein's handyman and chauffeur Martin B. Carter.
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Coincidentally, Willie Gault was mentioned in the news just last week, when his stolen 1985 Super Bowl ring was recovered by LAPD. The ring was found at a Downtown Los Angeles jewelry store.
