Monday, June 18, 2007

Some Big Names Tied to BurnLounge

Marc Isenberg of the terrific site Money Players finds a gem of a story. Several former South Carolina and Clemson standouts are investors in BurnLounge, an online music retailer that is being sued by the Federal Trade Commission.

The FTC alleges BurnLounge is a pyramid scheme. Currently only former South Carolina running back Rob DeBoer, who claims to have made $300,000 with the website since leaving his former job with the South Carolina sports marketing department, is facing legal action. But the list of BurnLounge investors and associates is staggering.

The Columbia State reports that Oklahoma coach Bob Stoops is an investor and former Clemson and Arkansas coach Danny Ford and former South Carolina running back and Heisman Trophy winner George Rogers lent their names in exchange for franchises that ended making little or no money.

Former South Carolina quarterback and Gamecock announcer Todd Ellis is also named by the paper, as is South Carolina receivers coach Steve Spurrier Jr., who said he invested in BurnLounge a year ago after Stoops introduced him to the concept. Spurrier already seems to be backpedaling.

"When Bob Stoops got me, he said, 'I've spoken to a lawyer about this. I've spoken to my agent. I've spoken to some people to find out if this is a legitimate thing. And everything they told me, this is a legitimate [business]. Put your name on it and go do it,' " said Spurrier Jr., a member of Stoops' Sooners staff from 1999 to 2001.

The State reported that Stoops was not available for comment. South Carolina athletic director Eric Hyman said the university is reviewing actions of those involved to see if any disciplinary action is warranted.


Anonymous said...

Ahem... DeBoer has made MUCH more that 300k. Check this out:

Anonymous said...

Do-over on the link: