Ex-Michigan basketball star Rumeal Robinson found guilty of 11 counts of fraud
DES MOINES, Iowa (AP) — Rumeal Robinson, who led Michigan to the NCAA championship in 1989, has been found guilty on 11 federal financial fraud charges.
A jury returned its verdict against Robinson on Wednesday, finding him guilty of bank bribery, wire fraud, conspiracy to commit bank fraud and making a false statement to a financial institution.
The U.S. attorney's office says Robinson schemed between 2004 and 2005 to borrow more than $700,000 from Community State Bank in Ankeny with the help a loan officer at the bank. Prosecutors say Robinson claimed to borrow the money for a business but actually bought a condominium, cars, furniture and invested in an energy company.
Robinson, who grew up in Cambridge, Mass., faces up to 30 years in prison and a $1 million fine on each count. After playing for Michigan, Robinson spent six seasons in the NBA.
Comments
saginaw
Thu, Sep 9, 2010 : 8 a.m.
Very sad. What is it about so many athletes -- especially football & basketball players -- doing stupid things? I just saw that Michigan State's Jay Vincent was involved in another serious fraud scheme. I realize that many of the kids had poor families and maybe a bad background coming into school. They are often the product of proverty in our society. It seems that the college should do more to "guide" these young men once they are accepted to Michigan. Maybe a support center and more mentoring is needed during the college years?
turbonerd
Wed, Sep 8, 2010 : 6:38 p.m.
You are right. This is actually just sad. For some reason I want to say "poor guy" rather than get angry. Who knows if he was convinced by a partner in the crime. I don't think it would be tough to sell him on something this stupid.
peg dash fab
Wed, Sep 8, 2010 : 6:23 p.m.
It's sad to see.