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Former Oiler Sean Jones Indicted on Fraud Charges

Discussion in 'Houston Texans' started by pgabriel, Jun 14, 2007.

  1. pgabriel

    pgabriel Educated Negro

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    I found this interesting because I remember Jones trying to get some home loans for some players at this bank I worked at. The loan officers didn't make the loans but not because they suspected fraud.

    http://www.chron.com/disp/story.mpl/front/4890296.html

    Former NFL defensive lineman Sean Jones surrendered to the FBI today after he and four others were charged with bank fraud in an alleged scheme to pocket portions of more than $42 million in mortgage loans.

    Jones, now a 45-year-old sports agent in Beverly Hills, Calif., played with the Los Angeles Raiders, Houston Oilers and Green Bay Packers from 1984 to 1996. According to a federal indictment unsealed Thursday the men face 12 counts of bank fraud, which carry a penalty of up to 30 years in prison.

    Prosecutors contend the men defrauded three Houston banks by acquiring mortgage loans far in excess of the properties' value and then diverting the money for personal use.

    Also charged were Jerome Karam, 44, an attorney and real estate developer; Tommy Jay Trammel, 44, and David Ranostaj, 40, former loan officers with Southwest Bank of Texas, Bank of Houston and Whitney National Bank; and Jay Westrick, 44, a real estate appraiser. All are residents of Houston.

    The indictment charges the men with colluding from 1999 to 2001 to acquire more than $42 million in loans based on false appraisals by Westrick and then divert the money to their personal accounts at closing.

    Jones, Karam, Trammel and Ranostaj set up shell corporations to disguise their role in the enterprise, according to the indictment.

    Federal officials say Trammel's and Ranostaj's role in the scheme was unknown to their supervisors at the banks.

    Each of the men faces a maximum sentence of up to 30 years in federal prison and a fine of up to $1 million.

    The men's lawyers were not immediately identified, the five are scheduled to appear in court Thursday afternoon.

    Jones played with the Raiders from 1984-1987, then joined the Oilers, where he played until his only Pro Bowl season in 1993. He went to Green Bay the following year and was on the Packers' Super Bowl-winning team in 1996.

    Jones has been plagued with legal and financial problems in recent years. Arbitrator Roger Kaplan ruled in 2003 that Jones violated NFL Player Association rules in a financial arrangement he had with NFL player Ebenezer Ekuban, who later declared bankruptcy. Kaplan suspended Jones for two years, blocking him from representing NFL players until 2005.

    Former Houston Oiler Cris Dishman also sued Jones and won $396,000 from him after a failed financial investment.
     
  2. BigSherv

    BigSherv Member

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  3. rrj_gamz

    rrj_gamz Member

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    Holy crap...That's pretty bad...He was great as an Oiler, but bad as a Mortgage person...
     
  4. texanskan

    texanskan Member

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    thank you captain obvious :D
     
  5. updawg

    updawg Member

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    wow, I remember him appearing to be very successful. I guess now we know why.
     
  6. pgabriel

    pgabriel Educated Negro

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    from what I remember, jones acting as an agent also helped get these guys mortgages. he wasn't a bad mortgage person, I guess he and the bankers were shaving money off the loans and pocketing it.

    this is funny, about 7 years ago jones was on jim rome's show talking about how he was into financial planning and helping younger players plan for the future.
     
  7. Baqui99

    Baqui99 Member

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    Anyone else remember "Sean Jones In the Trenches" on Sports Sunday with Craig Roberts. Those were good times.
     
  8. xiki

    xiki Member

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    Sorry to hear, SJ had always been represented to me as a model citizen.
     
  9. MadMax

    MadMax Member

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    I represented another bank defrauded in this mess. I got to know this stuff really intimately. All the names in this story are more than familiar to me. Messed up. It's surprising to me it's taken this long for there to be indictments. Everyone involved felt like this was coming years ago.
     
  10. MadMax

    MadMax Member

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    and remember when he had his agent's license suspended by the NFL for the way he handled Peppers?
     
  11. Refman

    Refman Member

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    So....he is not on your Christmas card list? :D
     
  12. RIET

    RIET Member

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    Wasn't he a stockbroker in the offseason?

    Even as an Oiler, he was never that good.
     
  13. TheFreak

    TheFreak Member

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    :confused:
     
  14. ryan17wagner

    ryan17wagner Member

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    You mean as a Titan!
     
  15. A_3PO

    A_3PO Member

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    He used to bring his kid to my former barber shop in Mo City.
     
  16. MadMax

    MadMax Member

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    maybe he should be...we did pretty well off that case (actually caseS against all the names in that article) :)
     
  17. SWTsig

    SWTsig Member

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    really going out on a limb there...
     

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