Investors Duped In Fantasy Football League | Attorney Charged

ATLANTA, GA -- A former Atlanta attorney has been arraigned on wire and tax fraud charges after allegedly duping investors in a fantasy football lottery league. Timothy Cobb, 53, started a company named Skyboxx Sports, LLC. Through Skyboxx, Cobb allegedly collected $500,000 from investors to start a fantasy football lottery league with the Georgia Lottery Corporation. Instead of using the proceeds from investors for business development, Cobb allegedly spent the money on himself for trips to Barbados and Mexico City, dining in restaurants in Atlanta, Miami Beach and New York, and other personal items.

Cobb allegedly then filed false federal income tax returns that deliberately omitted the information he stole from his investors.

“This defendant allegedly defrauded investors who believed he would run a fantasy football lottery league through the Georgia Lottery,” said U. S. Attorney Byung J. Pak. “Cobb gambled on getting away with his scheme, but he lost.”

“Cobb is no longer engaging in fantasy but reality,” said Thomas J. Holloman, Special Agent in Charge, IRS- Criminal Investigation. “Today’s indictment represents the government’s effort to throw a penalty flag against Cobb’s illegal activity to defraud investors in his startup of a fantasy league football lottery. Working these types of cases should show the taxpayer’s that everyone has a responsibility to report ‘all’ income on their tax returns.”

The case is being investigated by the Internal Revenue Service Criminal Investigation.

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