When former Detroit Tigers pitcher Denny McLain paid the price for committing million-dollar pension fraud with 8 year sentence
Twenty-five years ago in May 1997, Detroit Tigers legend Denny McLain was sentenced to eight years and one month in prison for being charged with embezzling money from a pension plan. Denny used the pension funds of a meatpacking plant named Peet Packing Co. in Chesaning, Michigan to splurge on personal expenditures. Interestingly, McLain co-owned the company.
Denny's lawyer, David DuMouchel, said that his client foresaw going to prison.
“He’s had better days. He knew coming in here that he was going to get a severe sentence.”
Fans were taken aback by the fraudulence in the late 1990s, particularly because the deception was committed by an MLB star who was earning a nice living from playing baseball.
Denny McLain becomes the first pitcher since Dizzy Dean in 1934 to win thirty games, September 14, 1968. https://t.co/eTsLR6bStN
"Denny McLain becomes the first pitcher since Dizzy Dean in 1934 to win thirty games, September 14, 1968." - Baseball In Pics
Denny was sentenced by U.S. District Judge Patrick Duggan to pay $2.5 million in compensation to victims of the pension scheme dating back to Feb. 17, 1994.
Peet Packing, which has been in business for 100 years, declared bankruptcy in June 1995, laying off 100 plus employees. The company's downfall started shortly after Denny purchased the firm in January 1994. Clearly, the former Tigers pitcher and his co-owners were involved in money laundering.
Prior to the pension fraudulence, Denny McLain was sentenced to 23 years in prison
Detroit Tigers legend Denny McLain's impeccable career performance in MLB led him to win two prestigious awards: The Cy Young Award ((1968, 1969) and the American League MVP Award (1968). He retired from MLB in 1972 while playing with the Atlanta Braves.
Unfortunately, his success on the mound stands in marked contrast to his off-field life. In April 1985, 13 years after his MLB departure, Denny was sentenced to 23 years in prison for extortion, racketeering, and drug-dealing charges.
30 years ago today, Denny McLain was convicted of racketeering, extortion, and cocaine possession and began serving his first jail sentence.
"30 years ago today, Denny McLain was convicted of racketeering, extortion, and cocaine possession and began serving his first jail sentence." - High Heat Stats
However, Denny only served 29 months of a 23-year sentence. The conviction was overturned by the court upon plea agreement.