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Monday, February 07, 2011

"Investment Opportunity" with Art Schlichter: What could possibly go wrong?

This guy swindled you?  Shocker.
Art Schlichter is in trouble - again.  The former Tosu QB-slash-gambling-addict-slash-ex-con is under investigation for a scheme that allegedly swindled numerous people out of several million dollars.

According to the ESPN.com story linked above:

(Schlichter) reportedly solicited people for money as part of an "investment opportunity" that involved brokering and selling tickets for Ohio State football games and other prominent sporting events to various people nearly two years ago.

The money collected by Schlichter was then used to place bets, some of which exceeded six figures.

You know, if you're dumb enough to give your money to Art Schlichter for him to "invest," then you deserve to be ripped off.

Seriously.  How fucking stupid were these people? Apparently they couldn't get in touch with the Nigerian Internet guy to send their money to him so they decided to go with Schichter.  I mean what could possibly go wrong with an "investment opportunity" run by a guy who has served time in 44 - yes, forty-fucking-four! - different prisons or jails since 1994?*

* That's not comedic hyperbole, that's true!


John said...

He didn't have a buckstache so I thought he was legit.

phil said...

So what you're saying is there isn't a chance in hell I'm gonna get my money back?

Yost said...

Trust me, John, I looked for THAT pic. And Phil, I'm not gonna say it looks bleak but...

surrounded in columbus said...

today on Jeopardy, the category is:

risky investments!

the answer: Enron stock, LTV junk bonds, subprime mortgage backed securities, and Las Vegas residential real estate.

the question: what are investments w/ a higher likelihood of a return than giving money to Art Schlichter?

Ramona said...

I like the odds better with the Nigerian internet scheme...

surrounded in columbus said...

Dispatch has a follow up story, featuring an interview w/ the widow that Art coerced into his scheme:


aside from the obvious tragedy of his addiction and her financial failure, another theme emerges from this story- almost all of the duped investors were lured into it by the promise of tosu football tickets!

phil said...

-"almost all of the duped investors were lured into it by the promise of tosu football tickets!-"

What, they aren't selling them anymore out of vending machines at truck stops?

surrounded in columbus said...

yeah, but the lines can get REALLY long, and the new vending machines require at least a GED level education to operate...