Former NFL star's advisor faces fraud lawsuit after SEC Ponzi probe

A former NFL player and his wife have accused their longtime advisor of defrauding them, leading to a high-stakes legal fight in North Carolina. 

Mike Rucker, who played defensive line for the Carolina Panthers, and his wife, Kristina, say they put their financial future in the hands of Jon Patrick Kubler, a man they’d trusted since college. For about 20 years, Kubler was their go-to for financial advice, handling investments, insurance, and real estate. The couple says they gave him complete access to their finances, believing he was acting in their best interests. 

But according to the Ruckers, that trust was misplaced. They allege that even after Kubler gave up his securities licenses in 2009, he continued to direct their investments through companies like Capital Synergy Partners and Steelpool, Inc. The complaint accuses Kubler of collecting commissions on an unnecessary life insurance policy, skimming rental income from their properties, and using their line of credit for his own purposes. 

Things escalated in 2023 when the Securities and Exchange Commission began an enforcement action against Kubler, accusing him of running a Ponzi scheme tied to a Texas real estate development. The Ruckers were among the alleged victims. After the SEC action, they started looking more closely at their finances and say they uncovered years of questionable activity. 

They responded by suing Kubler and several companies he was connected to, including Steelpool, Inc. and Capital Synergy Partners, Inc. The lawsuit claims fraud, securities fraud, breach of fiduciary duty, and conversion. The Ruckers argue that Kubler’s actions were either authorized by these firms or that the firms ratified his conduct. 

Steelpool, Inc. tried to get out of the lawsuit, arguing that the Ruckers’ alleged harm wasn’t connected to Steelpool’s actions. Steelpool’s founder, Andrew Holden, said the company’s main business was recruiting investment representatives for Capital Synergy Partners, not managing investments or collecting fees. He also said Kubler hadn’t been involved with Steelpool since 2019. 

On Wednesday, October 22, 2025, Judge Adam M. Conrad denied Steelpool’s motion to dismiss. The judge found that, at this stage, the Ruckers’ allegations were enough to keep Steelpool in the case. He pointed to claims that Kubler made investment recommendations and executed transactions as a representative of Steelpool, and that the Ruckers attended meetings where Steelpool and Capital Synergy Partners were described as part of a larger advisory network. 

The lawsuit is ongoing.