An unregistered financial consultant and a sports agent have been charged with trying to swindle several NFL players out of millions of dollars involving investments in Burger King franchises, according to the Associated Press.
Joseph Vaccaro, founder of Dynasty Management in New York City, and Vincent Porter, an agent for NFL players, have been charged with trying to raise $20 million from players for an investment in 13 Burger King franchises in Virginia that actually cost $16 million.
The pair and a confidential FBI informant were going to split the extra $4 million and were also expecting to get $2.5 million in profits each year, AP says.
Porter is certified with the NFL Players Association and listed as the agent for six players, including New England Patriots running back Jonas Gray.
The two have pleaded innocent to fraud charges and are scheduled to appear in court Feb. 2, AP says.
Vaccaro is the founder of Dynasty Management, which bills itself as “'a state of the art business management platform for athletes and entertainers.”
The firm's website lists as a “client relationship director” Leonard Marshall, a defensive lineman who won two Super Bowls with the New York Giants in 1987 and 1991.