Ex-NFL Star Willie Gault Sued by SEC in Stock-Pumping Fraud
Joshua Gallu, ©2011 Bloomberg News
Thursday, December 22, 2011


Dec. 20 (Bloomberg) -- Willie Gault, the former NFL wide receiver and Olympic sprinter, was accused by U.S. regulators of taking part in a scheme to artificially inflate the stock of a medical-device company that he helped manage.

Studio City, California-based Heart Tronics repeatedly announced millions of dollars in fake sales orders for its heart-monitoring devices between 2006 and 2008, the Securities and Exchange Commission said in a complaint filed today at U.S. District Court in California. The SEC also sued Gault's co-chief executive officer J. Rowland Perkins, attorney Mitchell Stein, and Stein's handyman and chauffeur Martin B. Carter.