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It's a sock in the gut for fans of a Notre Dame Icon. Daniel Rudy Ruettiger, the inspiration for the movie "Rudy" has been charged in a stock scheme.
The 1993 movie depicts a kid from a working-class family achieving what seemed like an impossible dream. People like the purity of the story. They like how Rudy would get knocked down and always got back up.
The five foot nothing' struggling student not only made it as a student at Notre Dame, he also earned a spot on the football team.
Rudy became a sort of American hero, showing that you can do anything you set your mind to. Now comes news from the Securities and Exchange Commission, about the real Rudy and an alleged stock scheme.
"Innocent investors were lured into this scheme by Mr. Ruettiger's well known feel good story, but unfortunately they found themselves in a situation that did not have a happy ending for their investments," SEC Associate Director for the Division of Enforcement Scott Friestad told FOX 28 News.
Friestad says Ruettiger and 12 others deceived investors into buying stock in Ruettiger's fledgling sports drink company by making false claims.
The SEC says Ruettiger has agreed to settle the civil charges and pay $382,866.
Despite all of it though, despite what's said in the court documents about the real Rudy trying to defraud people out of money, students at the Notre Dame tell FOX 28 they'll still be able to watch the movie and draw inspiration from it.
"I think I would try and separate the good side that's portrayed in the movie versus where he's at today," ND Student Owen Cox says.
Sophomore Chris Lillie says, "As far as his hard work at the school for football, that's still there, but as far as a person off the field... it kind of speaks for itself."
The 1993 movie depicts a kid from a working-class family achieving what seemed like an impossible dream. People like the purity of the story. They like how Rudy would get knocked down and always got back up.
The five foot nothing' struggling student not only made it as a student at Notre Dame, he also earned a spot on the football team.
Rudy became a sort of American hero, showing that you can do anything you set your mind to. Now comes news from the Securities and Exchange Commission, about the real Rudy and an alleged stock scheme.
"Innocent investors were lured into this scheme by Mr. Ruettiger's well known feel good story, but unfortunately they found themselves in a situation that did not have a happy ending for their investments," SEC Associate Director for the Division of Enforcement Scott Friestad told FOX 28 News.
Friestad says Ruettiger and 12 others deceived investors into buying stock in Ruettiger's fledgling sports drink company by making false claims.
The SEC says Ruettiger has agreed to settle the civil charges and pay $382,866.
Despite all of it though, despite what's said in the court documents about the real Rudy trying to defraud people out of money, students at the Notre Dame tell FOX 28 they'll still be able to watch the movie and draw inspiration from it.
"I think I would try and separate the good side that's portrayed in the movie versus where he's at today," ND Student Owen Cox says.
Sophomore Chris Lillie says, "As far as his hard work at the school for football, that's still there, but as far as a person off the field... it kind of speaks for itself."
