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Notre Dame football legend "Rudy" charged in alleged pump-and-dump stock scheme
NJ.com ^ | 12/16/11

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 ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: fraud; notredame; rudy; scheme; sec; stock
And now you know - the rest of the story.
1 posted on 12/20/2011 5:12:12 AM PST by Libloather
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To: Libloather

Movie sequel,

“Rudy II”

Or maybe “Rudy goes to Wall Street”


2 posted on 12/20/2011 5:16:27 AM PST by heiss (heartless and inhumane (radical rightwinger))
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To: Libloather

Occupy Rudy!


3 posted on 12/20/2011 5:23:00 AM PST by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The acronym explains the science.)
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To: Libloather

I really hated this movie, and don’t think I’ll like the sequel.


4 posted on 12/20/2011 5:24:56 AM PST by Clemenza ("History, I believe, furnishes no example of a priest-ridden people maintaining a free civil governm)
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To: Libloather

If he’d been a Congressman it would be fine.


5 posted on 12/20/2011 5:25:19 AM PST by poobear (Facts, the TURD in the punchbowl of Liberal thought!)
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To: Libloather

Wow, I’d want to be known as “Rudy” if I had his last name. In Germany he would be called “Roid Digger”.


6 posted on 12/20/2011 5:28:25 AM PST by 1raider1
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To: Libloather

Ru-dee! Ru-dee! Ru-dee!


7 posted on 12/20/2011 5:29:44 AM PST by TexasCajun (Fast & Furious , Solyndra & Light Squared would be enough to impeach any White President !!)
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To: poobear
If he’d been a Congressman it would be fine.

Man, you hit the nail on the head so hard that you drove it 1 inch into the wood :^)

8 posted on 12/20/2011 5:30:04 AM PST by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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To: Libloather
The movie was inspiring but I disagreed with the message. That you should focus on your weaknesses instead of your strengths. Rudy was NEVER going to be a NFL player... and yet, spent years to play that one game at the college level.

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.

9 posted on 12/20/2011 5:38:36 AM PST by John123 (US$ - I owe you nothing. Euro - Who owes you nothing.)
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To: John123
Well, without playing football and inspiring that movie, there is zero chance that his name would sell 10 cents worth of power-aid sports drink.

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.

10 posted on 12/20/2011 5:52:11 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: The Cajun

Truth has a way of doing that. And thank you.


11 posted on 12/20/2011 5:53:49 AM PST by poobear (Facts, the TURD in the punchbowl of Liberal thought!)
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To: Beagle8U
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.

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...

12 posted on 12/20/2011 5:59:33 AM PST by John123 (US$ - I owe you nothing. Euro - Who owes you nothing.)
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To: poobear

Rudy voted for Obama so this is racist.


13 posted on 12/20/2011 6:00:22 AM PST by safetysign
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To: poobear

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.


14 posted on 12/20/2011 6:01:52 AM PST by Ax
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To: Libloather

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.


15 posted on 12/20/2011 6:03:14 AM PST by SteveAustin
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To: John123
Rudy also got an education out of the deal. Had he not played football he never would have been able to afford college.

Minus the stock scam, I fail to see how he wasted his time and effort with what he did with his life.

16 posted on 12/20/2011 6:14:21 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Libloather

It’s not illegal

If you are a congress critter...


17 posted on 12/20/2011 6:16:24 AM PST by Freddd (NoPA ngineers.)
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To: Ax

Interesting. The movie only shows that he worked at the steel mill with his brother and father. Wonder why they left that out? Hollywood ;(!


18 posted on 12/20/2011 6:17:02 AM PST by poobear (Facts, the TURD in the punchbowl of Liberal thought!)
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To: poobear

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?!


19 posted on 12/20/2011 6:31:39 AM PST by massgopguy (I owe everything to George Bailey)
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To: Beagle8U
"never...afford college"

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.

20 posted on 12/20/2011 6:36:40 AM PST by driftless2
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To: driftless2
If the story is to be believed, he couldn't even afford JC without help.
21 posted on 12/20/2011 6:42:45 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Beagle8U
Had he not played football he never would have been able to afford college.

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.

22 posted on 12/20/2011 6:50:38 AM PST by ladyjane
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To: Beagle8U

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.


23 posted on 12/20/2011 7:00:39 AM PST by driftless2
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To: driftless2
I don't think he had to pay all of those two years at Holy Cross either per the movie, and his grades before entering were terrible, hardly passing in HS.
24 posted on 12/20/2011 7:21:17 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Beagle8U
Rudy also got an education out of the deal. Had he not played football he never would have been able to afford college.

Do walk-ons get scholarships?

25 posted on 12/20/2011 7:33:25 AM PST by 1raider1
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To: Beagle8U

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.


26 posted on 12/20/2011 7:51:11 AM PST by driftless2
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To: driftless2
low-middle class students
^^^^^^^^^^^^^^^^^^^^^^^^^

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.

27 posted on 12/20/2011 8:00:58 AM PST by wintertime (I am a Constitutional Restorationist!!! Yes!)
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To: wintertime
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..

28 posted on 12/20/2011 8:21:25 AM PST by Lancey Howard
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To: wintertime

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.


29 posted on 12/20/2011 2:55:55 PM PST by driftless2
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