Ex-Sonics Trainer from Redmond Sentenced to Prison Term

Stephen B. Gordon, from Renton, was sentenced on July 30, 2015 for running a $4 million Ponzi Scheme.  According to an article by KOMO News, Gordon was sentenced to four years in prison for his involvement in running this scheme.  The U.S. Attorney’s office for the Western District of Washington alleged that he admitted to the scheme, which affected at least 30 victims.

Gordon, age 62, at one time worked as a trainer for the Seattle Supersonics.  It was alleged that from 2007 to 2013, Gordon solicited investors to make investments in a variety of schemes ranging from bringing an NBA franchise to Seattle, to supporting an Australian basketball league, to investing in Section 8 housing.  It was alleged that a lot of the money was not invested as promised, and he sometimes used investor money to pay off other investors to lull them into thinking that the investments were generating income.

Israels & Neuman PLC is a national securities and investment fraud law firm with offices in Bellevue and Denver, Colorado.  We represent investors in FINRA arbitration proceedings in all 50 states, and we also represent investors locally, including in Seattle, Bellevue, Kirkland, Bothell, Kenmore, Renton, Redmond, Sammamish, Issaquah, Mercer Island, Medina, Clyde Hill, Yarrow Point, Hunts Point, Beaux Arts Village, Woodinville, and many other local communities.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.

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