A Florida lawyer, Phillip Timothy Howard, who pleaded guilty to defrauding former NFL players out of $4 million they had received from a settlement with the NFL regarding concussion injuries, has been handed a 14-year prison sentence by U.S. District Judge Allen Winsor in Tallahassee.
Racketeering Conviction
Howard, 62, the owner of Howard & Associates, admitted to racketeering in August. Prosecutors revealed that Howard persuaded his NFL player clients to invest in companies under his control without disclosing that these investments would yield no returns. Instead, the funds were redirected to finance his law firm, cover his mortgage, and personally benefit Howard.
Betraying Client Trust
“The defendant should have been protecting the interests of his injured clients, rather than swindling their investments,” commented Jason Coody, the U.S. Attorney for the Northern District of Florida, in a statement.
No Comment from the Federal Public Defender
Howard’s federal public defender declined to provide a comment on the case.
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Sentencing and Restitution
In addition to the 14-year prison term, Howard was also ordered to serve three years of supervised release and to make restitution of $12.64 million.
NFL Settlement Background
In 2015, the National Football League reached a $1 billion settlement with approximately 5,000 former NFL players who accused the league of concealing the dangers of concussions. This settlement, confirmed by a federal appellate court in 2016, included monetary awards of up to $5 million per retired player.
Fraudulent Activities
Prosecutors alleged that Howard and others deceitfully obtained $4 million from former NFL players who invested in his companies. He provided them with fabricated quarterly and year-end investment reports as part of this scheme.
Deceptive Information to Lenders
Howard didn’t stop at deceiving the NFL players; he also provided false information to third-party lenders. These lenders, in turn, granted $8 million to his law firm and clients before the NFL settlement.
This case serves as a reminder of the importance of trust and ethical responsibility in the legal profession, particularly when handling clients’ financial matters and investments.
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