Ex-UVa football player convicted in investment fraud scheme

Virginia News

RICHMOND, Va. (AP) — A former University of Virginia football player has been convicted of scamming investors out of $10 million.

Merrill Robertson Jr. was convicted Monday of conspiracy, mail fraud, wire fraud, bank fraud and money laundering.

Prosecutors say the 39-year-old Robertson and a co-conspirator operated a Richmond investment agency that sold promissory notes with a promised annual return of up to 20 percent. Instead, they used much of the invested money for mortgage payments, cars, vacations and a luxury suite at a football stadium.

RELATED: Richmond investment banker and former NFL football player arrested for fraud

Authorities say Robertson identified potential investors through contacts he developed playing football at Fork Union Military Academy and at the University of Virginia

He was first convicted in 2017 but won a new trial.

Sentencing is scheduled for Jan. 3.

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