Court papers reveal the former Dallas Cowboys running back was the victim of a multi-million dollar investment scheme ran by Charles Huggins.
On Wednesday (May 13), justice was handed down to Huggins as Manhattan Federal Court Judge Sidney Stein sentenced him to 10 years in prison on fraud and conspiracy charges, the New York Daily News reports. In addition to being previously married to Moore, the 69-year-old music producer is noted for working with Whitney Houston and Kenny G at one point.
Prosecutors in the case stated that Huggins stole millions of dollars from his victims while assuring them their money was being invested in gold and diamonds from Africa
Authorities noted that rather than staying true to his word, Huggins ultimately used the money to support a lavish lifestyle that included a Mercedes-Benz, swank Manhattan apartment that rented for $7,200 and meals at high-end restaurants.
“This fraud was extensive, brazen, and sophisticated,” Stein told Huggins, noting he “lived a very luxurious lifestyle on the money of presumably hardworking individuals … people who were completely innocent.”
Prosecutors went on to mention an old-fashioned Ponzi scheme that used some of the money to pay other investors, according to the Daily News.
Overall, prosecutors said investors lost more than $8 million. In addition to 10 years in prison, Huggins was ordered to pay $2.3 million in forfeiture and restitution.