UFC Hall of Famer Randy Couture has played an unexpected role in uncovering what appears to be a major financial fraud scheme targeting professional athletes. The investigation centers on Eric McNeil, a self-proclaimed investor and influencer who claimed to generate returns of 5 to 10% monthly through his Onyx fund.
According to sources, McNeil’s operation came to light when he attempted to recruit one of Couture’s athletes, Dan Ige. He was a rising competitor looking to invest his earnings. McNeil contacted Couture online knowing his connection to Ige, and made what Couture described as significant claims about investment returns.
Rather than accepting these promises at face value, Couture consulted his trusted wealth management team. They immediately raised concerns about McNeil’s legitimacy.
“Those are guys I really trust obviously. And so, I started throwing some of these things at them and then like who is this guy?” Couture recalled. “That kind of started this ball rolling and then I became very concerned because Dan’s a young athlete. You don’t want to see one of your guys get taken advantage of.”
Concerned that his athlete might be taken advantage of, Couture decided to investigate further by posing as an interested investor.
During a recorded call, McNeil made extraordinary claims about his fund’s performance. He stated that his fund had achieved over 101% returns for the year, marking four consecutive years of 100% or higher returns. McNeil also claimed that trading Bitcoin was actually safer than investing in the S&P 500, a statement that defies basic investment principles.
When investigators examined the supposed trading records McNeil provided, they discovered multiple red flags. The documents claimed to be reviewed by CPA David Rosenbaum. When contacted, Rosenbaum stated he had no knowledge of the company or how his name appeared on their materials. Additionally, the trading records showed numerous instances where trades were opened and closed at the exact same time, yet somehow generated profits up to $40,000.
The investigation revealed troubling connections between Onyx and Goliath Ventures, a $300 million Ponzi scheme whose CEO was arrested.
McNeil also offered Couture a 5% annual referral bonus for bringing in other investors, a common tactic in pyramid schemes. Despite claiming everything was approved by SEC attorneys, the structure raised immediate concerns.
Couture’s decision to record the conversation and share it with investigators may have prevented other athletes from losing their money. He admitted that without his financial team’s guidance, he might have fallen for the scheme himself.
When finally confronted by journalists, McNeil denied operating a Ponzi scheme and claimed Onyx no longer trades cryptocurrency. He stated that they never actually conducted the crypto trading themselves, contradicting his earlier detailed explanations about proprietary algorithms and trading software.
