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Monday, December 19, 2011

Real-Life ‘Rudy’ Accused of Fraud by S.E.C.

Daniel (Rudy) Ruettinger, whose story of making the Notre Dame football team despite his small size became the basis of the 1993 movie “Rudy,” was sued by the Securities and Exchange Commission on Friday in connection with a sports drink company, Rudy Beverage, that was meant to compete with Gatorade. The commission accused him and 12 others of running a pump-and-dump investment scheme in 2008 that reaped more than $11 million in illicit gains, DealBook reported. Mr. Ruettinger settled the charges without admitting to or denying the accusations, and paid $382,866.

From the NY Times

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