Former NFL kicker pleads guilty in Ponzi scheme - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Former NFL kicker pleads guilty in Ponzi scheme

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AUSTIN, Texas (AP) - Former Texas All-American and NFL kicker and punter Russell Erxleben has pleaded guilty in Austin to wire fraud and money laundering charges in connection with a Ponzi scheme.

The U.S. Attorney's office says the 56-year-old University of Texas kicker from Dripping Springs faces an agreed 7 ½ years in prison for the scheme authorities believe netted $2 million.

Erxleben lured investors to put their money into post-WWI German government gold bearer bonds and a work of art purportedly by Paul Gauguin. He used the money to pay himself and earlier investors.

Erxleben was a first-round draft pick by the New Orleans Saints in 1979. Sentencing was scheduled for February.

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