Former NHLer Facing up to 10 Years in Prison After Gold Investing Scheme

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TJ Tucker
June 27, 2023 (10:46)

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A bit of a strange story is brewing involving investments in gold and a former NHLer. According to reports out of Europe, Michal Sykora, who played close to 270 games in the NHL with four different teams, is on trial in his home country of Czechia after investing in gold and convincing several former teammates to do so.

According to AftonBladet, Sykora began investing in gold after his retirement from pro hockey in 2005. Things were going well at first, but went down hill fast. Court documents claim Sykora owes around $1.25 million USD to 37 different creditors, several of them former teammates.

Then, it goes deeper. After declaring bankruptcy earlier this year, the court alleges Sykora made a payment from the company account to his personal account of around $251K USD.

When questioned, the 49-year-old claimed he'd been duped. Sykora is also claiming that gold worth millions of dollars mysteriously disappeared from his personal safe. If convicted, Sykora could be looking at up to 10 years in prison in the Czech Republic.

Background

Michal is the brother of Peter Sykora, who played over 1000 games in the NHL, won two Stanley Cups and played in the Stanley Cup Final six different times. Michal Sykora was initially drafted by the San Jose Sharks in the sixth round in 1992. Most of his NHL games were with the Sharks, but he also played for the Chicago Blackhawks, Tampa Bay Lightning, and Philadelphia Flyers before returning home to finish out his career.

Source: AftonBladet