Retired Panthers Star Sues Adviser Over $3M Ponzi Scheme Loss

Mike Rucker, a former Pro Bowl defensive end for the Carolina Panthers, and his wife Kristina have filed a lawsuit against their longtime financial adviser Jon Kubler, accusing him of mismanaging nearly $3 million of their money through a Ponzi scheme. Kubler, who managed the Rucker family's finances for over two decades, allegedly raised approximately $5.6 million in investor funds but invested only 4%, using the rest for Ponzi-like payments to earlier investors and personal expenses, including antiques and online dating services. The Ruckers claim Kubler forged their signatures to open accounts, diverted over $1 million, mismanaged real estate dealings, and persuaded Kristina to take out a $14 million life insurance policy that generated fees Kubler paid himself. The Securities and Exchange Commission notified the Ruckers in 2023 of Kubler's scheme, and he was indicted by the Justice Department on charges of securities fraud and money laundering. Kubler reportedly settled SEC claims and agreed to pay penalties but faces ongoing legal action from the Ruckers seeking damages, interest, and attorney’s fees. Mike Rucker retired from the NFL in 2007 and now owns a real estate company with his wife in Charlotte, North Carolina.