How often do the words “billionaire” and “high school softball coach” come up here at BadJocks? Would the answer NEVER surprise you? Apparently, it would the parents at Monarch High School in Colorado who “invested” hundreds of thousands of dollars with one Richard Dale Mott, the school’s varsity softball coach. Mott allegedly convinced students and their parents that he was actually a billionaire who lived in a nearby town in a mansion with a six car garage packed with antique cars. He had also sent aside a cool $25 million EACH for his children . . . so what’s the big deal about investing a $100,000 or so with the man, right? Chump change for a guy like that, unless, of course, he’s really NOT a billionaire. And now it looks like he lost his day job.
The former head coach of Monarch High School’s varsity softball team — casting himself as a billionaire with a garage full of expensive antique cars — defrauded parents and others of tens of thousands of dollars in a series of bogus loan schemes, according to a lawsuit filed last week. Randy Davenport, who was president of the Monarch Fastpitch Softball Club and whose daughter plays on the team, sued Richard Dale Mott after he said he was unable to recover $80,000 he loaned Mott to fund a supposed gypsum mining operation in Wyoming.
Davenport alleged in his suit that Mott, who resigned as coach from the Louisville high school in December, had promised him a $50,000 interest payment on the loan and had guaranteed the loan with a promissory note. Mott also got loans from “numerous members of the Monarch High School parent community” that he never repaid, the suit states. Davenport claimed that Mott, who was hired by the Boulder Valley School District in the summer of 2008, made off with $185,000 total from four or five investors, including himself. “It’s an expensive lesson and one that I will be paying for,” Davenport said Thursday. “I want to see that guy suffer some kind of consequences for what he’s done.”
Mott portrayed himself to his players and their parents as someone of extreme wealth, Davenport said. He told them he was worth $11 billion and owned an expensive home in Evergreen with a six-car garage packed with antique vehicles, Davenport claims. He also claimed he had set aside $25 million each for his children.
“Defendant Mott used his position as an employee at a public school to secure the trust of the individuals he induced into giving money to him,” the suit states. Davenport said Mott actually lives in a rented home in Evergreen and is hundreds of thousands of dollars in debt.
SOURCE: Former Monarch softball coach accused of fraud – Boulder Daily Camera
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