Brian J. Ourand, a former financial adviser to former high-profile athletes including, Mike Tyson, Dikembe Mutombo, and Glen Rice admitted to stealing nearly $1 million from his clients and using the money for personal expenditures.
The 55 year old Ourand, pleaded guilty to embezzlement in a federal court. He allegedly took money from his clients through the use of bogus wire transfers and fraudulent checks.
Ourand said he used the stolen money on various luxuries such as tanning sessions, dental work, gambling, and hotel stays. Attorneys claimed that Ourand’s expenditures also included paying private school tuition for one of his girlfriend’s relatives.
Ourand agreed to pay back $1 million under a plea deal — which includes $546,168 he stole from Tyson between 2006 and 2011, $265,124 he stole from Rice, and $182,957 he took from Mutombo. He will also pay $8,141 to an unnamed athlete.
His guilty plea carries a maximum punishment of 20 years in prison, but he only faces 33 to 41 months under the terms of the deal.
Ourand’s sentencing is scheduled for May 2.
