Former Pickleball Rocks Owner Raided by FBI in $50 Million Ponzi Scheme Scandal: Reports
The pickleball community was rocked by scandal as FBI agents raided the home of former Pickleball Rocks owner Rodney Grubbs in connection to a $50 million Ponzi scheme. Grubbs, who promised investors a 12% interest rate and failed to deliver, has denied the allegations but admitted to owing $47 million to his victims.
The scandal, which came to light in December 2023, involved investors from Canada and Portugal who put their money into Grubbs’ now-defunct apparel company. In a desperate attempt to pay off his creditors, Grubbs even resorted to auctioning off pickleball gear.
While Grubbs has not been charged, the FBI’s Indianapolis division is actively investigating the case and reaching out to potential victims. The agency is urging anyone affected by the scam to come forward and provide information to assist in the investigation.
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