CONVICTED: Marion Darnell Jones, Sports Agent
COLUMBIA, S.C. -- Associated Press reports a former sports agent accused of mishandling the assets of Washington Redskins running back Stephen Davis and other professional athletes pleaded guilty Monday to bank fraud. Marion Darnell Jones, the 40-year-old former president of Summit Management, pleaded guilty in federal court to one count of defrauding a bank of $248,000.
The indictment said Jones and Summit vice president James Brown wrongly projected 1997 earnings at more than $5 million. Their projection was "grossly inflated," Assistant U.S. Attorney Eric Ruschky said. The prosecution claimed Jones and Brown squandered their clients' money by living extravagant lifestyles, and by spending their earnings on nightclubs and drugs.
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