Former L.A. Raider Indicted in Alleged Texas Mortgage Scam

This one's a stretch, but we like fraud stories, so we'll post it: Former Raiders defensive end Sean Jones of Beverly Hills is among five people indicted in an alleged $42-million mortgage fraud scheme in Texas.

From Inman.com: "The indictment charges that the defendants -- including two bank loan officers, an appraiser and a developer -- obtained $42 million in fraudulent loans from three Houston banks between 1999 and 2001.

More: "Prosecutors said the scheme relied on inflated appraisals and shell companies to divert loan proceeds from the sale of apartments that had been converted into condominiums."

One more: "Dwight Sean Jones ...  who became a sports agent after his 12-year NFL career ended in 1996, allegedly invested in (the) projects and recruited his clients as investors."

The AP reports Jones surrendered to the FBI on Thursday and pleaded not guilty. AP further reports Jones "has been plagued with legal and financial problems in recent years."

Photo Credit: Raidersonline.org

Comments

[buz algood]

Hope he is not guilty. Sean was a great defensive lineman and formed one of the better defensive teams the Raiders have had with the likes of Howie Long, Bob Golic and Scott Davis. During the NFL strike in the mid 80's he was the Raider player representative and was very outspoken which did not curry favor with owner Al Davis and probably led to his trade to the Houston Oilers. Maybe he was too smart for his own good with this real estate business.

[chadokimu]

That's really depressing, I remember Jones was the Raiders' NFLPA rep and generally considered one of the real bright and classy guys in the League . . . sad to see him involved in something like this.