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Anquan Boldin Being Questioned About Possible Ponzi Scheme

Former Pahokee high school, Florida State Seminole, and current Super Bowl champion Baltimore Ravens wide receiver Anquan Boldin is being questioned about a now-dissolved company that he was once a shareholder with that's being accused of running a massive Ponzi scheme.

The then-Palm Beach County-based Hawk Systems Inc. is being accused of a scheme where a reportedly $30 million has vanished.

Boldin, 32, reportedly fronted the company $250,000 back in 2008, and recruited other NFL players to invest with promises of millions in return.

Hawk Systems's founder, David Coriaty, and others within the company, are being accused by former investor, Marc Spanakos, of using millions of dollars given to them by investors for personal use.

There are currently four active lawsuits, all by former investors.

Boldin reportedly got Oakland Raiders runningback Darren McFadden, Pittsburgh Steelers defensive back Ike Taylor, and former University of Miami and Washington Redskin Phillip Buchanon to invest in the company.

The NFL sent out a fraud alert to every team in 2010 when it learned of the players' involvement with the company. The league-wide memo warned that Hawk Systems was under investigation for questionable business practices and that they "may be targeting current and/or retired NFL players as potential investors."

The NFL also told players involved with the company to immediately conduct an audit.

As for Boldin, Spanakos believes he's done nothing wrong, and may be one of the alleged victims.

"There's no evidence that Anquan did anything wrong as of right now," Spanako says. "Actually, he could be a victim, too. But that's what we want to find out in the deposition. We'd like to find out what Anquan's relationship with the company's owner was."

Boldin is expected to meet with attorney Michael Simon Thursday afternoon to discuss the lawsuit.

Hawks Systems manufactured a security system that's activated with fingerprints, but never turned a profit selling the device. Spanakos, a New York commodities trader, reportedly invested $4 million in the company.

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Chris Joseph
Contact: Chris Joseph

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