Real-Life Rudy Charged in Stock Scam
Daniel Ruettiger, who was immortalized on the silver screen, ran into trouble with the SEC.
| Posted Friday, Dec. 16, 2011, at 3:37 PM
Photo by Chris Chambers/Getty Images.
He’s probably not going to be carried off the field on his teammates’ shoulders for this one.
Daniel Ruettiger, the undersized Notre Dame walk-on football player immortalized in the movie Rudy, has been charged by the federal government in a pump-and-dump stock scheme. The Wall Street Journal reports that he and 10 others have agreed to settle the charges without admitting or denying the allegations. For his part, Ruettiger agreed to pay $382,866.
You can read the SEC lawsuit against Ruettiger and his business partners here. The feds claim that Ruettiger and a dozen others used a sports drink company they founded, called Rudy Nutrition, in a penny-stock scheme that raked in $11 million in illegal profits.
