‘Mafia the Movie,’ a Ponzi scheme and the NCAA
The case against Arizona Wildcats assistant basketball coach Emanuel 'Book' Richardson and his codefendants hinges in large part on an FBI informer who is identified in court records only as “CW-1.”
According to the criminal complaint, that individual paid bribes to Richardson and others. He also participated in meetings and wire communications, and eventually brought an undercover agent into the conspiracy.
While the informer is not named, an FBI affidavit says CW-1 pleaded guilty last year in a separate case to securities fraud, wire fraud, aggravated identity theft and false statements. It also says on May 6, 2016, he reached a civil settlement with the Securities and Exchange Commission for violating federal regulations.
Those descriptions appear to match Louis Martin Blazer III, a Pittsburgh financial advisor for professional athletes.
U.S. District Court records in southern New York show Blazer was charged earlier this month with the felonies described in FBI papers. The court record says Blazer, operating a concierge and investment company known as Blazer Capital Management, embezzled money from at least five clients who were professional athletes. Online court records do not include a guilty plea.
On May 6, 2016, the SEC posted a no- tice of settlement that says Blazer stole roughly $2.35 million dollars from five unnamed professional athletes who were his clients, funneling the money into the development of two film productions, one of them titled, “Mafia the Movie.”
The SEC notice and a federal lawsuit filed by the agency against Blazer say he lied about the thefts and fabricated documents. After one client detected the embezzlement, the filings say, Blazer shifted money to him from another athlete’s account in an effort to cover up the crimes via a Ponzi scheme. Blazer did not admit guilt in the civil litigation, but agreed to a settlement with penalties.
Court records show in August he was ordered to pay more than $1.7 million reimbursement, plus a penalty of $150,000.
Blazer represented himself in the SEC litigation and did not list an attorney in the criminal case. He did not respond to a voicemail message seeking comment.
Blazer Capital Management’s website says the company is a “premiere personal services advisory firm…(for) professional athletes, entertainers and high net worth (sic – no hyphens) individuals and families.”
No one answered a call to the company’s phone, or responded to voice and email messages. The website lists Blazer first among five team members. Their profile links appear to have been disabled.