The epidemic of fraud against professional athletes

Athletes who've been defrauded

Financial fraud is an equal opportunity predator, attacking active and retired athletes across the spectrum of sport and gender.

Ernst & Young recently issued a report, Athletes Targeted by Fraud, stating pro athletes lost $334 million to fraud between 2013 and 2017 and another $160 million in fraud-related losses the prior eleven years. Missing amongst these astonishing figures are the countless frauds against athletes that have not been identified or publicly reported, making the true cost of fraud hard to fathom.

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David Byrne
David Byrne
Certified Fraud Examiner at | Website

David Byrne is a Certified Fraud Examiner and Certified Anti-Money Laundering Specialist. Byrne previously worked as a financial regulator at FINRA for seven years where his investigations involving money laundering, fraud, and other securities violations resulted in $35,072,500 in fines, eight individuals suspended or barred, and two problematic firms gone from the industry. A listing of these specific cases and links to the public documents detailing the facts and circumstances can be found here.

Prior to FINRA, David was licensed as a financial advisor at Merrill Lynch in Washington, D.C., on a team of six that managed $600 million.

Byrne founded BrightLights in 2017 and is based in San Francisco, California.

Permanent link to this article: https://advocacyforfairnessinsports.org/2019/03/09/the-epidemic-of-fraud-against-professional-athletes/