Skip to comments.Notre Dame football legend "Rudy" charged in alleged pump-and-dump stock scheme
Posted on 12/20/2011 5:12:09 AM PST by Libloather
Notre Dame football legend "Rudy" charged in alleged pump-and-dump stock scheme
Updated: Friday, December 16, 2011, 4:36 PM
Daniel Ruettiger, the former walk-on football player at the University of Notre Dame who inspired the 1993 film Rudy, agreed to pay $382,000 to resolve U.S. regulatory claims he defrauded investors in his sports-drink company by touting fake taste tests and sales.
Ruettiger and 12 others generated more than $11 million in illicit profits by artificially pumping up the stock of Rudy Nutrition, the firm Ruettiger founded, the SEC said in a complaint filed today at U.S. District Court in Las Vegas.
The company sent promotional press releases falsely claiming that Rudy Nutrition outsold sports-drink Gatorade by 2 to 1 in the Southwest and outperformed Gatorade and Powerade in several blind taste tests, according to the complaint. At the same time, the promoters traded Rudy Nutrition stock to inflate the price of unregistered shares they were selling to investors, the SEC said.
(Excerpt) Read more at nj.com ...
Or maybe “Rudy goes to Wall Street”
I really hated this movie, and don’t think I’ll like the sequel.
If he’d been a Congressman it would be fine.
Wow, I’d want to be known as “Rudy” if I had his last name. In Germany he would be called “Roid Digger”.
Ru-dee! Ru-dee! Ru-dee!
Man, you hit the nail on the head so hard that you drove it 1 inch into the wood :^)
He would have been much further along had he used that dedication to start up a viable business... obviously, not the kind that got him in trouble.
I'll bet he made more money off his fame from that movie than many that went into the NFL and washed out in a season or two.
Truth has a way of doing that. And thank you.
True, but look what "Rudy" did... inspired countless of less-than-athletic young men to focus on college football instead of education or business.
Dollars to donuts, those young men didn't make any money...
Rudy voted for Obama so this is racist.
Being a life-long Irish fan, I really loved the movie. Just recently I read an article in the Legion magazine about Rudy. Turned out the writers of the movie skipped over a significant fact: Rudy spent some years in the U S Navy before applying at Notre Dame. He was a yeoman on a communications command ship.
Just a small aside. I can’t believe how many small companies are/were created to market “sports drinks”. And most of them go belly up quickly with investors losing all their money.
I give credit to entrepreneurs. On the other hand, handing over cash to a bunch of neophytes with a washed up former athlete spokesman to go up against Gatorade isn’t always the best concept. Yet these startup energy drink companies keep hitting the market.
Minus the stock scam, I fail to see how he wasted his time and effort with what he did with his life.
It’s not illegal
If you are a congress critter...
Interesting. The movie only shows that he worked at the steel mill with his brother and father. Wonder why they left that out? Hollywood ;(!
The game sequence was shot during a VERY VERY LONG Half Time during the Boston College-Notre Dame game. They told BC fans not to hold up our BC Touchdown Towels.
...you don’t want us to hold up what?!
Maybe not afford to go to an expensive school, but I'm sure he could afford, like thousands of other low-middle class students, to go to much less expensive state college. Like I did.
The idea of not being able to afford college is a myth perpetrated by liberals. Public junior colleges are not expensive.
It's all a matter of priorities and willingness to work for it.
I didn’t watch the movie or read his bio, so I don’t know his financial situation. I do know that there are opportunities for lower-income students in the way of grants and loans. I find it difficult to believe that he could not have gotten a college loan or grant in some form if was an adequate student. Since he managed to do two years at Holy Cross College before he entered Notre Dame, I would guess that answers the question. He was a military vet who was already attending an accredited college before he got into Notre Dame. Whether he could have afforded Notre Dame without an athletic scholarship is separate from whether he could afford college period.
Do walk-ons get scholarships?
Well, despite less than sterling grades, he was attending college. Which begs the question: should he have been attending college? Now, I have absolutely no problem with him attending Notre Dame or any of the other particulars concerning his life. I’m just saying a student with low academic achievement managed to get into an accredited college.
Why is it assumed that he was “low-middle class”. In the movie he was a steel worker. Isn't that union work with union wages and benefits?
While he may have come from **culturally** lower-middle class family, I did not get the impression that he and his parents were **financially** lower middle class.
Humpph humpph, yes yes..
I didn’t see the movie, and assumed from comments by others that since he couldn’t afford to go to college, he was not middle-class. I have no idea what his parents made. Poor, middle-class, whatever, there were resources for him where he could have a higher education. He didn’t have to get an athletic scholarship to do it was my point.