Ex-NFL players advisor Mary Wong indicted on charge of running a Ponzi scheme

According to the Associated Press, federal prosecutors charged a woman, Mary Wong, once advised Michael Vick and three other NFL players with stealing $3 million from eight victims in a Ponzi scheme.

As prosecutors stated, Wong worked out of her Omaha home and purported to sell investments in luxury properties in Arizona, Tennessee and Michigan along with private jets and other investments.

However, according to the accusation released Monday, Wong used the money she raised to uphold her other businesses and a lavish lifestyle for herself, her business partners and clients. Like in a Ponzi scheme, some money from new investors was used to pay past investors.

Wong’s partners in Williams & Bullocks LLC were three NFL players, Demorrio Williams of the Kansas City Chiefs and twins Josh Bullocks of the Chicago Bears and Daniel Bullocks of the Detroit Lions. They also get benefits from the Ponzi scheme being Wong’s partners, as prosecutors claim, playing at the same time for the University of Nebraska.

The federal fling against Wong identifies her victims only by initials, so it was not immediately clear Monday who lost money and whether Vick's, , money was involved in the scheme. Vick sued Wong in January seeking to recover at least $2 million from her.