Mohamed Coulibaly, a 24-year-old accused of defrauding former NFL players in an online investment scheme, was found dead in a New Jersey swimming pool on Friday.
Authorities are investigating the death of Coulibaly, who was found in a pool in Harrison Township, New Jersey. Police arrived at the residence to perform a wellness check after individuals expressed concern for his state. No criminal charges had been filed against Coulibaly regarding the fraud allegations.
Shopify Investment Investigation
The death occurred weeks after a July 15 investigation by Barron's named Coulibaly as the leader of an alleged scheme targeting professional athletes. The report stated that athletes were persuaded to purchase shares in online stores that were supposed to operate on the Shopify platform.
Three former NFL players reported losing more than $1 million combined through investments with the Philadelphia native. Former New York Giants linebacker Tae Crowder met Coulibaly through a friend. Other clients listed included Philadelphia Eagles players Nakobe Dean and Jalen Carter, Las Vegas Raiders player Terrell Edmunds, rapper YG, and United States national soccer team defender Mark McKenzie.
Manually Entered Sales Figures
Former professional athletes invested in the online stores after reviewing sales figures that presented a very positive trajectory. However, the Barron's investigation found that these transactions had been manually entered by someone with access to the store management system.
Crowder was selected by the Giants in the seventh round of the 2020 draft and played for the team through the 2022 season, last playing in the NFL for the Tennessee Titans in 2023. The 29-year-old said he frequently saw Coulibaly with people he knew, which made him feel comfortable and trust him. Crowder invested his entire savings of $500,000 into one of the virtual stores. He said he constantly checked the store, noting that the reported figures increased the more he logged in and spoke about it, though the displayed returns were never paid to him.
Denial of Allegations
Coulibaly strongly disputed the allegations against him before his death. In July, he told the New York Post that he strongly disputed several factual claims and characterizations in the Barron's article and subsequent reports based on it.
Coulibaly also told Barron's that investors did not receive expected returns because he had not received anticipated funds from a planned buyout of his business. Crowder said his goal was to prevent others from facing a similar situation and called on those affected to unite and fix the situation. Authorities said the investigation into Coulibaly's death remains ongoing.
