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Former UT Football Star Erxleben Headed to Prison

Former UT Football Star Erxleben Headed to Prison

   Back in the 1970s, University of Texas football player Russell Erxleben was the best collegiate kicker in the game.  Today, a federal judge punted Erxleben into federal prison for seven years for his role in a bizarre Ponzi scheme, 1200 WOAI news reports.

 

  Erxleben, 57, pled guilty to conning investors into buying shares of Weimar Republican gold bearer bonds, and shook them down for $2 million.

 

  In addition to the prison time, Erxleben, who now lives in Dripping Springs, was ordered to repay the money.  Erxleben admitted using the proceeds from the scheme 'for the benefit of himself and his family,' and to pay purported 'dividends' to previous investors, the hallmark of a Ponzi scheme.

 

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