A one-time NFL player and ex-Merrill Lynch broker has been ordered to pay more than $8 million for defrauding clients, some of whom he knew from his time playing football at the University of Virginia.
Merrill Robertson Jr., who worked at Merrill Lynch from 2008 to 2009, has already been sentenced to 40 years in prison
Robertson was not registered as a broker during the time of the scheme, the SEC says. He

- Finance and investment-related court cases
The barred advisor and his brother defrauded a widow as part of a real estate investment scheme, according to federal prosecutors.
February 8 -
A 75-year-old widowed retiree allegedly lost nearly half of her $3 million investment in the scheme.
November 15 -
The advisor targeted clients he obtained at Social Security seminars, according to prosecutors.
September 26
An attorney for Robertson could not be reached for comment.
After leaving Merrill Lynch, Robertson formed Cavalier Union Investments with partner Sherman C. Vaughn Jr. in Chesterfield, Virginia. Their target clients were seniors, coaches, donors, alumni and employees of schools Robertson had attended, according to the SEC.
Authorities accused the men of misleading clients about what they would invest their funds in as well as the safety of those investments.
Last month, Vaughn pleaded guilty to one count of conspiracy to commit mail fraud and one count of unlawful monetary action. He was sentenced to 12 years in prison.