Jalen Carter became the highest-paid defensive tackle in NFL history when he signed a four-year, $152 million contract extension with the Philadelphia Eagles two weeks ago. However, during the offseason, it was also revealed that Carter was reportedly part of a group of current and former NFL players who allegedly lost money in a scam by a former NFL general manager and a Philadelphia entrepreneur.
Ndamukong Suh Gives Advice to Jalen Carter and Co.
In a clip posted on X on Thursday, former Super Bowl champion Ndamukong Suh advised NFL players on how to approach private investing.
“I think it’s important that guys do their due diligence and not just trust the theories and opportunities that are presented to them because having been an investor for 10+ years, you know that at minimum, seven out of 10 of these investments are going to 100% fail,” Suh said. “The odds of you finding the one gem that doesn’t fail, it’s too far in between.
“I think it’s important to understand the characters, the different people that are presenting the deal to you. Are they investing their own money in the deals, or are they just asking you to invest your money?”
“Make sure you focus in, understand what you’re getting yourself involved in,” Suh added. “Get multiple opinions on what you’re getting ready to spend, put your hard-earned money into and be keen on being unbiased and unfiltered to what that is before you make a decision and write a check because the odds are against you when it comes to private investing.”
The mastermind of the scam, 24-year-old Mohamed Coulibaly, allegedly targeted several former and current NFL players in an e-commerce scheme, which resulted in over $1 million in losses. Coulibaly was found dead in a swimming pool in Harrison Township, New Jersey, on July 31.
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Coulibaly reportedly convinced the NFL stars to invest in fake online retail stores built on the e-commerce platform Shopify.
The websites showed fake sales logs, but they were actually manually entered by someone with access to the stores’ backend.
Coulibaly reportedly had Instagram pictures with active NFL players Nakobe Dean and Carter. Las Vegas Raiders safety Terrell Edmunds is one of the active NFL players listed as Coulibaly’s victims.
Former Arizona Cardinals general manager Steve Keim was the operations chief at Coulibaly’s Motion Ventures. Keim’s reputation as an NFL general manager for 10 years and as an executive at Rich Paul’s Klutch Sports agency helped lure unsuspecting NFL players into Coulibaly’s scheme.
This article originally appeared on Pro Football Network.