NFL player held in housing scam
A former player with the Tennessee Titans football team was arrested Tuesday on suspicion of defrauding a housing developer of $2.5 million by falsely promising to secure funding for a construction project in Mexico.
FBI agents took Reed Kyle Diehl, 29, of Coto de Caza into custody at his residence on federal charges of wire fraud in connection with the alleged offer to secure a line of credit for the unnamed out-of-state developer.
According to a complaint filed in U.S. District Court in Santa Ana, Diehl persuaded the alleged victim to deposit $2.5 million to be used as collateral for the promised line of credit.
Instead, the complaint says, the former NFL player used the money to pay others who had invested their money with him.
No line of credit was obtained.
If convicted, Diehl faces up to 20 years in federal prison.
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