Former Bear Willie Gault sued for alleged stock fraud

December 20, 2011 7:50:20 PM PST
Federal regulators are suing former Chicago Bears star Willie Gault. They say he took part in a scam to artificially inflate the stock of a medical-device company he managed called Heart Tronics.

Gault became a spokesperson for the company after retiring from the Bears. Later he became a company officer. He spoke to ABC7 by phone about the lawsuit.

"We will fight this of course and defend it. As I was the co-CEO, I received zero dollars from the company. I received nothing in the form of payment. It wasn't about money about me trying to save lives I think that will come out," said Gault.

Along with Gault, five other people are accused of defrauding investors by giving the impression that Heart Tronics had millions of dollars in sales orders while knowing it did not.

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