Ex-NFL Player Accused of Misusing Loan for Fitness Club

Article Tools




Interact With Us



Best of 2011

Top Stories of 2011

The most popular stories of 2011. Did your favorites make our list?

View our Top 12 list here

Resource Center

Buyers Guide

Find industry businesses by product or service categories, view company profiles and more.

View our Buyers Guide

Club Industry Trade Show

Club Industry Show and Conference, held each October, is the premier event for fitness and wellness professionals. Find out more about Exhibitors, Events, and Education.

View our Trade Show

Industry Events & Trade Shows

The industry-wide calendar features listings for educational events, trade shows and more.

View our Events Calendar

Classifieds

View classified ads for health club equipment and services, plus business opportunities and job postings.

View Classifieds

Current Issue

Read stories from the latest print issue of Club Industry magazine.

View the Current Issue

E-Newsletter Signup

Breaking news on the industry, people on the move, mergers and acquisitions and much more. Delivered weekly.

HARRISBURG, PA -- A former National Football League player was arrested after allegedly stealing a $400,000 loan that was expected to be used to open a fitness club.

The Pennsylvania attorney general’s office charged Lee Woodall for misusing a loan he received from the Pennsylvania Minority Business Development Authority (PMBDA) that was intended for the opening of the club in Chester County (PA). The office says Woodall used the loan for personal expenses.

Attorney General Tom Corbett said the terms of the loan agreement required Woodall to purchase specific items of fitness equipment. It also stipulated that the PMBDA would have security interest in that equipment.

Upon receiving the money in June 2005, Woodall had spent almost all of the money by April 2006 on airline tickets, hotels, home furnishings, cars and other personal uses, according to the criminal complaint. No fitness facility had been opened.

Also, Woodall did not make loan payments and did not keep the PMBDA informed about the progress of the gym, according to the complaint.

Woodall was arraigned and later released on $100,000 bail. He was charged with one count of theft by failure to make required disposition of funds received, a third-degree felony. A preliminary hearing is set for April 22.

Woodall played eight seasons in the NFL from 1994 to 2001 for the San Francisco 49ers, Carolina Panthers and Denver Broncos.

Want to use this article? Click here for options!
© 2012 Penton Media Inc.

Sponsored Content

Cardio and Strength Trends
Sponsored by Life Fitness

Core Strength Conditioning
Sponsored by The AB Coaster Company

Group Exercise
Sponsored by LesMills

Technology Resource Center
Sponsored by ABC Financial

Videos

1st Annual Fitness Industry Summit 2011: Introduction

Jay Del Vecchio, World Instructor Training Schools President and CEO

Star Trac 2012 Photo Shoot: Behind the Scenes

Making of Star Trac Lifestyle Images Video.

Elevation Series iPod Compatibility

Watch the newest informative video from Life Fitness.



More Video

E-Newsletter

Newsbeat

Delivered once a week, this timely e-newsletter features breaking news, people on the move, mergers and acquisitions, supplier news, industry trends and more.

Subscribe

Most Popular

Most Recent

Insights into what high-level club executives think about their business and industry trends.

View Executive Insights

Practical Internet strategies to help you build customer relationships, increase revenues and lower costs.

View Web Savvy

In This Issue: May 2012 View All Past Issues

Cover Story

The Business of Corporate Fitness

Focusing on the corporate fitness market can present a revenue opportunity.



View the full issue
| View the digital edition

Subscribe To Club Industry Magazine

In Print and Online

Subscribe today to get the news you need and information you want from our print or digital edition as well as in our e-newsletters.

Subscribe Today!