A 24-year-old entrepreneur from Philadelphia, Mohamed Coulibaly, allegedly convinced several former NFL players to invest over $1 million into a Shopify store that reportedly inflated its sales figures, according to a recent report.
Among the alleged investors were Philadelphia Eagles players Nakobe Dean and Jalen Carter, rapper YG, and U.S. men’s national soccer team defender Mark McKenzie. However, it’s unclear if these athletes were aware of their involvement, as Dean’s representatives declined to comment and others did not respond.
Interestingly, no accusations of wrongdoing have been directed at the players themselves.
The contract reviewed indicated that Coulibaly pitched athletes on owning a ready-made e-commerce site in exchange for a minimum investment of $50,000, promising returns of the principal and 80% of profits within six months.
Evidence uncovered suggested that numerous orders were manually entered into the Shopify dashboard, creating a facade of success despite minimal customer engagement.
One particular site, Dailyprodtrend, recorded a fictitious $5,000 order for 100 countertop humidifiers and 120 USB-powered cup warmers, supposedly from a customer in Luxembourg. A resident at the listed address confirmed he hadn’t made any such purchase, jokingly questioning who would need that many humidifiers and cup warmers.
According to the report, Dailyprodtrend received over 360 orders from March 2025 to February of this year, with only 90 actual site visitors. Each transaction was manually registered and marked as paid shortly thereafter, raising even more concerns.
Email attempts to contact listed customers bounced back as undeliverable.
Concerns from Former Players
Three ex-NFL players reported losing over $1 million in separate investments related to Coulibaly, though their names weren’t disclosed. One former player had a now-defunct Shopify site called LuxeLane, expressing uncertainty about the potential for recovering their lost funds. “People are scared,” he remarked.
The apparent success of the store allowed Coulibaly to exit his business, Motion Ventures, selling it to Dubai-based Middle East Venture Partners for a hefty $215 million.
Evidence presented showed that Coulibaly had given an investor a contract naming a JPMorgan Chase adviser as the escrow agent, but Chase refuted the legitimacy of the agreement, stating that it did not originate from the bank.
Coulibaly claimed there was a delay in payment due to not receiving funds from the Dubai firm but did not elaborate further when contacted for comments. Investors began to grow suspicious as promised payments failed to materialize.
The owners and associates of Dailyprodtrend stated they invested around $925,000 in cash and commitments to set up more stores, totaling 18 additional outlets.
The group sought the help of Barry Minkow, a fraud investigator and former con artist, who filed reports with relevant authorities, although the agencies chose not to comment on the situation.
Appearing Successful
Coulibaly’s social media showcased a lavish lifestyle filled with private jets, luxury cars, and photos with high-profile figures, seemingly appealing to a demographic that may be more susceptible to dubious investment schemes.
In response to the allegations, Coulibaly expressed significant disagreement with the claims made in the article, highlighting inaccuracies and context omission.
He explained that while customers could see their stores on Shopify, other operational aspects were managed through separate platforms. Coulibaly also insisted that the store should not be labeled as containing “fake orders.”
He mentioned being proactive in assisting an investor who faced financial issues, wiring them $25,000.
A criminal defense attorney described the situation plainly, suggesting it involved manually creating orders to mislead athletes into believing the stores were profitable, thus garnering more investment. Importantly, he said that distinguishing between a flawed business model and actual fraud is critical.
The newspaper has reached out to the relevant parties for their take on the matter.
