Darien Dash Accused Of Heading A Ponzi Scheming Hedge Fund
Darien Dash, brother Stacey Dash and cousin Damon Dash, has been accused a Ponzi-scheming hedge fund that affected nearly two dozen athletes, including former Carolina Panthers player Nic Harris.
Dash once headed Pro Player Funding, a subsidiary hedge fund Platinum Partners, whose executives were arrested last year on securities and wire fraud charges. Vince Young fell victim to Platinum Partners, shelling out $1.9 million to the company. He ended up suing them after proving a fraud financial adviser made the deal without his knowledge. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Now, Darien is being accused running a $1 billion Ponzi scheme. He began his business preying on gullible pro-athletes in 2011, during the 5-month long NFL lockout. He recieved financial backing from Platinum, and with that, Dash convinced players to take high interest rate loans with heavy obligations in order to keep the cash flowing while their pay checks were on hold.
Many players who took out loans were under the impression that if they got dropped, they would not be responsible for the loan. That was not the case, and many players are still working to pay back these huge loans today.