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.