MICHAEL ROWAN, a former financial adviser who represented multiple NFL players as clients, has pleaded guilty to federal charges of wire fraud and filing a false '11 income tax return and faces a maximum of 23 years in prison. Rowan "converted and misappropriated approximately $2.9 million from his clients' bank accounts" from '08-14, according to a statement issued by RIPLEY RAND, the U.S. Attorney for the middle district of North Carolina. Rowan then "failed to report the misappropriated funds on his federal income tax returns," the U.S. Attorney's office said. As reported by SportsBusiness Journal in '10, Rowan and his partner JASON JERNIGAN represented multiple star NFL player clients. Court documents filed by the U.S. Attorney in federal court stated that Rowan misappropriated funds from two NFL players with the initials G.D. and J.S., but the players full names were not revealed in court documents. Charlotte-based criminal defense attorney HAROLD COGDELL JR. represents Rowan, who was not in custody last week. "He fully accepts responsibility for the offenses he has pleaded guilty to," Cogdell said of Rowan. "He intends on complying with any and all court-ordered sanctions and penalties." Cogdell declined to comment further, including on whether Rowan's sentence could be reduced as part of an agreement with the government. Rowan is scheduled to be sentenced on Jan. 31.
