Former UGA, NFL player says alleged scheme wiped out $500K savings
Tae Crowder. Courtesy of GoFundMe
ATLANTA - Former University of Georgia football player Tae Crowder says he lost at least $500,000 — essentially his entire life savings — in an alleged investment fraud scheme that also attracted other professional athletes.
Crowder, the final pick of the 2020 NFL draft, played for the New York Giants from 2020 to 2022 before brief stints with other teams and a recent season in the United Football League.
What we know:
Crowder told ESPN he invested with Motion Venture, an e-commerce operation run by 23-year-old New Jersey resident Mohamed Coulibaly. Crowder said seeing other NFL players and recognizable names involved made the investment appear legitimate.
Other players report losses
What they're saying:
Crowder and other former NFL players say they invested hundreds of thousands of dollars in deals that promised repayment of their principal after a set period, but the money was not returned.
Some investors say their losses exceeded $1 million.
Crowder said he met with federal investigators before Coulibaly's death and sent a formal demand for payment in May. A complaint outlining the allegations was also filed with the Securities and Exchange Commission and other authorities in February.
What we know:
Coulibaly was found dead in a swimming pool July 31 after a welfare check in New Jersey. No charges have been filed in connection with the allegations.
Crowder's attorney said investors may still be able to pursue claims against Coulibaly's estate.
What you can do:
Crowder has launched a GoFundMe as he works to rebuild financially.