Thursday, February 27, 2014
(Austin, TX) -- Former University of Texas football kicker Russell Erxleben is headed to prison for the next seven years for a Ponzi scheme. An Austin federal judge handed down the sentence to the star kicker for promoting fake investment opportunities, involving defaulted bonds from after the post-World War One German government. Erxleben had previously told the "Austin American-Statesmen" he never did anything wrong and though the bonds were a good investment opportunity. He now says he "blew it" and is very ashamed.