'Rudy' settles in SEC stock fraud case, pays $383KCBSSports.com wire reports Friday December 16, 2011 - 10:18 PM
Daniel Ruettiger, who earned a walk-on spot on Notre Dame's college football team for his plucky play despite his small frame, dished out $382,866 to settle SEC charges for a pump-and-dump stock scheme that reportedly rolled up $11 million in profits for Rudy Nutrition, a now out of business soft-drink company.
"Investors were lured into the scheme by Ruettiger's well-known, feel-good story but found themselves in a situation that did not have a happy ending," Scott Friestad, Associate Director of the SEC's Division of Enforcement, said according to NewsCore.
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