SEC accuses former NFL player, others of committing fraud with Detroit-area pension money

SEC alleges fraud in handling of pension money

DETROIT — Federal regulators are accusing a former NFL player and a friend of fraud in the handling of $23 million from Detroit-area public pension funds.

The Securities and Exchange Commission says $16 million given to Onyx Capital Advisors ended up in three businesses controlled by car dealer Michael Farr of Atlanta. He had a brief career in the NFL and is the son of former Detroit Lions star Mel Farr.

The SEC’s lawsuit names Michael Farr, Detroit-based Onyx Capital Advisors, and Onyx founder, Roy Dixon Jr., a Michigan and Atlanta resident.

The government says $3 million was stolen, and pension fund administrators in Detroit and Pontiac were misled. The SEC accuses Michael Farr and Dixon of using money for their personal use.

Farr and Dixon did not immediately return messages Thursday.