The former Defensive Safety of the Kansas City Chiefs, Justin Reid, has issued a red alert to his fellow athletes about an ongoing money scam targeting NFL players.

The scam is regarding Special Purpose Acquisition Companies (SPAC) schemes, which include investments in return for commissions, stocks, startups, or some other form of compensation, often giving out misleading deals that are too good to be true.

Reid took on his social media and warned everyone, highlighting the post as a PSA (Public Service Announcement).

“If you are an athlete and someone comes to you saying the want you to invest in or represent a SPAC and they are specifically targeting athletes bc of “X,Y,Z”… RUN AWAY!!!!!”

These people ask and manipulate the players to represent or find investors, to invest their money, and even before the investment ever happens, they take their cuts as promised and leave. 

“THIS IS ILLEGAL since you do not own a broker license and that is known as broker activity. They are using you to do their dirty work and leverage your relationships for profit at the expense of your friends.”

He wrote, “Furthermore if they are promising you to 5X or 10X your money within 1-2 years because they are the only company doing this in some new exciting industry or using buzzwords like “energy sector”, this is obviously fake!!! Don’t fall for it!! The are intentionally using abstract concepts to confuse you.”

The New Orleans Saints player ended the post by asking every athlete or anyone who knows an athlete to not allow themselves to fall into this trap and to ask questions, especially to someone who has expertise in this area, and let them talk to the scammers.

Scams Other NFL Players Have Fallen Prey To

Justin Reid mentioned an ex-NFL Wide Reciever who was scammed to represent the scheme by recruiting other athletes to invest.

He was also asking other athletes, including the college football players, to use their network to find more investors.

There have been many other scams similar to SPAC surrounding the NFL players. In 2025, the Minnesota Vikings linebacker, Dallas Turner, had also fallen prey to a bank fraud scheme that resulted in a loss of $240k. 

Another notable scam includes the former Miami Dolphins safety, a two-time Pro Bowler, Reshad Jones, who was a victim of a $2.58M theft and money laundering scheme in 2025.

Even Reid, in his comment, hinted at this saying, “Doesn’t this structure sound familiar? Be smart, ask questions. If it sounds too good to be true… you know the rest.”

Certainly, Reid's advice to his fellow athletes will make them aware of the scam. What do you think? Let us know in the comments!

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Written by

Monika Khatai

Edited by

Kalp Thaker