AJC Watchdog: First Alert

Keeping watch on those who hold the public trust and money

Georgia adviser to star athletes heading to federal prison

In late June, a federal judge in Texas sentenced the Atlanta-based investment adviser to 48 months in prison and ordered him to repay Duncan.

Banks also duped the client into signing a personal guarantee on a bank line of credit for the company, SEC said. To get him to sign, Banks directed that only the signature page of the guarantee document be sent to the investor, while falsely representing to him that it would reduce his existing investment risk in Gameday when in fact it increased the risk.

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About the Author

Lois Norder is Senior Editor for Investigations in the newsroom at The Atlanta Journal-Constitution.