HOUSTON — A self-styled financial guru known by a web of aliases is behind bars, accused of siphoning millions from professional athletes through a sprawling fraud scheme. Peggy Ann Fulford, 58, formerly of Houston and now living in New Orleans, was arrested today and charged with wire fraud, mail fraud, interstate transportation of stolen property, and money laundering. Among her alleged victims: former NFL star Ricky Williams and three other pro athletes left financially gutted.
Fulford, who has used the aliases Peggy King, Peggy Williams, Peggy Simpson, Peggy Rivers, Peggy Barard, Devon Cole, and Devon Barard, falsely claimed to be a Harvard-educated financial advisor and money manager, according to a federal indictment unsealed today. The eight-count indictment, returned by a Houston grand jury on Dec. 13, 2016, alleges she convinced victims she had earned millions on Wall Street and had no need for fees — she only wanted to protect their wealth. In reality, prosecutors say, she looted their accounts for luxury cars, real estate, jewelry, and airline tickets.
She told victims she graduated from both Harvard Law School and Harvard Business School and had made fortunes buying and selling hospitals or investing in Bahamian real estate — all lies. Instead of managing their money responsibly, Fulford allegedly funneled funds through dozens of bank accounts, laundering the stolen cash while posing as their trusted advisor. She never disclosed that most of their money would be used for her own personal gain, the indictment states.
Fulford allegedly manipulated athletes into giving her access to their bank accounts through in-person meetings, phone calls, and emails. Once access was granted, she drained the accounts. One transaction detailed in the indictment involves a cashier’s check purchased with victim funds, followed by the use of FedEx to send real estate closing documents from Florida to Houston — a paper trail now feeding the federal case.
If convicted on the wire or mail fraud charges, Fulford faces up to 20 years in federal prison. Each count of money laundering and interstate transportation of stolen property carries a maximum 10-year sentence. The FBI led the investigation, with Assistant U.S. Attorney Belinda Beek handling the prosecution.
Fulford made her initial appearance in New Orleans today and is expected to be transported to Houston for further proceedings. The indictment is not evidence of guilt. Under federal law, the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
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Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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