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Former UT Kicker Nabbed in Alleged Bond & Art Ponzi Scheme

Former University of Texas football player RussellErxlebenis in federal custody.

The Dripping Springs resident was arrested this morning and accused of running a Ponzi scheme that generated more than $2 million, according a statement from the U.S. Attorney's Office for the Western District of Texas.

An eight-count federal grand jury indictmentalleges that Erxleben used several companies to promote fraudulent investments, including one in post World War One German government gold bonds. Another of the alleged investments involved an early 20th-century French artist Paul Gauguin

Most of the charges carry a sentence of up to 20 years in prison.  Erxleben entered UT in 1975. He went on to play in the NFL starting in 1979. 

Nathan Bernier is the transportation reporter at KUT. He covers the big projects that are reshaping how we get around Austin, like the I-35 overhaul, the airport's rapid growth and the multibillion-dollar transit expansion Project Connect. He also focuses on the daily changes that affect how we walk, bike and drive around the city. Got a tip? Email him at Follow him on X @KUTnathan.