Ex-NFL players say they lost $1M in alleged fake – Business News
A 24-year-old Philadelphia entrepreneur allegedly persuaded former NFL players to invest more than $1 million in Shopify shops the dashboards of which appeared to show fabricated gross sales, in response to a report.
Philadelphia Eagles stars Nakobe Dean and Jalen Carter, rapper YG and US males’s soccer national workforce defender Mark McKenzie have been among the many people listed as shoppers in a pitch deck reviewed by Barron’s.
It was unclear whether or not these athletes knew they had been included, the publication mentioned. An agent for Dean declined to remark, whereas representatives for Carter, Terrell Edmunds, McKenzie and YG didn’t reply to messages.
Mohamed Coulibaly allegedly supplied former NFL players possession stakes in Shopify shops that appeared to generate thriving online gross sales, in response to a Barron’s investigation. Mohamed Coulibaly/Instagram
None of the athletes have been accused of wrongdoing.
Mohamed Coulibaly supplied athletes the chance to own ready-made e-commerce websites in exchange for investments of not less than $50,000, guaranteeing the return of their principal after six months, plus 80% of any earnings from the websites, in response to contracts reviewed by Barron’s.
The outlet discovered proof suggesting many orders have been manually entered into Shopify dashboards, creating the looks of profitable online shops regardless of little buyer visitors.
One web site, Dailyprodtrend, recorded a $5,000 order from a purported buyer in Luxembourg for 100 desktop humidifiers and 120 USB-powered cup heaters.
The particular person dwelling on the transport deal with listed on the order advised Barron’s he had by no means made the acquisition.
“Who needs 100 humidifiers and 120 cup warmers?” he mentioned.
Dailyprodtrend logged more than 360 orders between March 2025 and February of this 12 months, in response to Barron’s.
Philadelphia Eagles star Jalen Carter was listed as a consumer in a Motion Ventures pitch deck reviewed by Barron’s, although the publication mentioned it was unclear whether or not he knew he had been included. Getty Images
US soccer standout Mark McKenzie, who represented the United States at this 12 months’s FIFA World Cup, was amongst these listed in a Motion Ventures pitch deck reviewed by Barron’s. FIFA by way of Getty Images
The web site acquired simply 90 guests during that period. Each transaction was manually entered and marked paid minutes later, the report mentioned.
Emails to a number of listed clients bounced back as undeliverable, in response to Barron’s.
‘People are scared’
Three former NFL players advised Barron’s they collectively lost more than $1 million by way of separate investments tied to Coulibaly. They weren’t named in the article. One of these players owned a now-defunct Shopify web site known as LuxeLane.
“Everybody doesn’t know if they’re going to get their money back,” he advised Barron’s. “People are scared.”
The shops’ obvious success later helped Coulibaly pitch traders on a purported $215 million sale of his company, Motion Ventures, to Dubai-based Middle East Venture Partners, in response to the report.
Former NFL security Terrell Edmunds was additionally listed as a consumer in a pitch deck produced by Coulibaly’s company, in response to Barron’s. Getty Images
As proof of that deal, Coulibaly allegedly confirmed one investor a contract naming a JPMorgan Chase wealth adviser as escrow agent. Chase advised Barron’s the settlement didn’t come from the bank and that the signature didn’t match the adviser’s.
Coulibaly advised Barron’s the anticipated payouts had not arrived as a result of he had not acquired money from the Dubai firm, which didn’t reply to Barron’s requests for remark.
Investors turned suspicious after promised payouts repeatedly didn’t arrive.
The proprietor of Dailyprodtrend and a buddy advised Barron’s they invested $925,000 — together with money and returns they believed they have been owed — to determine 18 further shops.
Eagles linebacker Nakobe Dean appeared in photographs posted on Mohamed Coulibaly’s Instagram account. Getty Images
They later sought help from Barry Minkow, a convicted fraudster turned freelance financial fraud investigator, who submitted experiences to the Securities and Exchange Commission, the FBI’s Philadelphia workplace and the Pennsylvania Department of Banking and Securities, in response to Barron’s.
The businesses declined to remark.
Trappings of wealth
Coulibaly’s social media feeds projected an aura of wealth and entry — non-public jets, yachts, a limited-edition Maybach — together with photographs of him posing with Eagles stars Dean and Carter, each members of Philadelphia’s 2026 Super Bowl championship workforce, in addition to McKenzie, who performed for the US in this 12 months’s FIFA World Cup.
The pitch focused a group that financial advisers say could be particularly weak to questionable alternatives.
“I strongly dispute a number of the factual assertions and characterizations contained in the Barron’s article and any follow-up reporting that relies upon them,” Coulibaly advised The Post.
Former NFL players advised Barron’s they invested more than $1 million in Shopify companies marketed by Coulibaly (pictured). Mohamed Coulibaly/Instagram
“In my view, the article contains significant inaccuracies, omits important context, and presents disputed allegations as established fact.”
Coulibaly mentioned he “categorically den[ies] engaging in any fraudulent scheme or intentionally misleading investors,” including that “there are documents and communications that provide important context not reflected in the article.”
“It is not accurate to describe the stores as being ‘filled with fake orders’,” he advised The Post by way of electronic mail.
Coulibaly mentioned shoppers got entry to Shopify to monitor their shops, whereas different components of the business — together with fee processing and success — have been dealt with by way of separate third-party platforms.
He additionally mentioned the Barron’s article’s characterization of a disputed deal was “missing context” and “very misleading,” arguing it concerned a bulk sale of white-label manufacturers that was by no means accomplished as a result of a former athlete failed to offer agreed-upon funding and the buying company has but to pay Vent Motion.
Coulibaly cultivated an image of wealth and high-profile connections on social media, posting photographs with celebrities, athletes and executives — together with this one with Jay-Z and New England Patriots proprietor Robert Kraft. Mohamed Coulibaly/Instagram
He added that his company wired the investor $25,000 after the investor bumped into financial bother.
“The alleged mechanics are fairly straightforward: create manual Shopify orders to make a store appear profitable, use those numbers to build credibility with athletes, and then leverage that credibility to raise money for a much larger deal,” Todd Spodek, a felony protection lawyer and managing associate at Spodek Law Group, advised The Post.
“From a criminal defense standpoint, the key questions are who entered the fake orders, who prepared or circulated the allegedly forged documents, and whether each person involved actually knew the representations were false.”
“That distinction matters because a questionable business model or failed investment is not the same as an intentional fraud scheme.”
The Post has sought remark from the Eagles, Dean, Carter, YG and McKenzie.
