Sports memorabilia forfeited to repay for Ball-State bilking
6:33 AM, Jun 19, 2014
MUNCIE, Ind. - A Brooklyn, New York, man who pleaded guilty to wire fraud for his role in an investment fraud scheme that cost Ball State University $3.8 million has agreed to forfeit a baseball jersey autographed by Mickey Mantle and boxing gloves autographed by Mike Tyson to pay restitution.
The Star Press reports 46-year-old George Montolio consented to the forfeiture during criminal proceedings. He also agreed to forfeit four row house-style apartment buildings in the Bronx, New York, and a 2010 Chevrolet Camaro.
Ball State also was defrauded of $8.165 million in another investment-fraud scheme by 37-year-old Seth Beoku Betts, of Florida, who has forfeited a $1 million waterfront home in Palm Beach County that he bought with university funds.