A man who was convicted of defrauding numerous NHL players, and other investors, of millions of dollars has been sentenced to 10 years in jail by a U.S. district court judge.
In a jury trial, Tommy Constantine and co-conspirator, Phillip Kenner, were convicted of various charges, including wire fraud, conspiracy and conspiracy to commit money laundering for schemes that took millions from investors, including several former NHLers.
According to the U.S. Department of Justice (DoJ), the pair diverted the investors’ money to pay their personal expenses, to finance legal bills and to fund an unsuccessful effort by Constantine to buy Playboy Enterprises.
The DoJ reported that Kenner was a collegiate hockey player who became a financial advisor in the Boston area. He connected with various pro players through a former college teammate who went on to become an NHL star, Joe Juneau.
“Through those early contacts, Kenner developed a roster of clients, including former New York Islander Michael Peca; former New York Islander and New York Ranger Brian Berard; Darryl Sydor and Bill Ranford, both two-time Stanley Cup champions; and other NHL players whose careers and playing earnings blossomed just as they placed more and more trust in Kenner to invest and manage their finances and wealth,” the DoJ said. “Instead, Kenner and Constantine diverted these earnings for their own uses.”
Now, Constantine has been ordered to spend 10 years in jail, to forfeit approximately US$8.5 million, to pay US$5.2 million in restitution, and ordered to forfeit assets, including an oceanfront resort in Mexico, real estate in Hawaii and a Falcon 10 jet.
Last month, Kenner was sentenced to 17 years imprisonment. The court has scheduled a restitution proceeding for Kenner on Nov. 18.
“For years, Constantine and his co-conspirator abused the trust that these victims placed in them, stealing their hard-won earnings and diverting millions of dollars for their own use,” said acting U.S. attorney for the Eastern District of New York, Seth DuCharme.
“When the investors started asking questions, rather than come clean, Constantine doubled down, re-victimizing the victims by convincing them to put even more good money in their bad hands,” he added.