LEXINGTON, Ky. (WKYT) - According to a report by Yahoo! Sports, former Kentucky guard Brandon Knight is one of more than 30 professional athletes involved in an $18 million fraudulent investment scheme.
The U.S. Department of Justice, the FBI and the U.S. Securities and Exchange Commission are investigating, saying that Jade Management had NFL and NBA player who purchased high interest investments.
Jade Management has ties to Success Trade, which sold promissory notes to investors, among them Browns cornerback Joe Haden, 49ers tight end Vernon Davis, former Redskins running back Clinton Portis, and Knight.
According to the report, the players were urged to contact federal authorities. Success Trade was ordered to halt the fundraising after $18 million was sold.
Sources told Yahoo! Sports that investments ranged from $50,000 to $500,000.