5 things to know about Rodney Grubbs and the fraud accusations involving Pickleball Rocks
Investors from across the U.S. are speaking out against an Indiana pickleball apparel CEO they claim took tens of thousands of dollars from them without any return on their investments.
Rodney "Rocket" Grubbs of Brookville is accused of soliciting investors — typically pickleball players — for high interest, unsecured 18-month loans of $25,000 or more for his company All About Pickleball LLC, which does business as Pickleball Rocks.
More: Pickleball apparel CEO, dubbed sport's 'ultimate ambassador,' accused of Ponzi scheme
Investors were told their funds would help purchase new inventory, but when their notes came due many have struggled to get repaid. Now, the investors fear they've been swindled as part of alleged Ponzi scheme.
IndyStar took a deeper look into Grubbs and the accusations against him. Here's what you need to know:
Who is Rodney 'Rocket' Grubbs?
On his website, Grubbs calls himself a certified professional consultant. The website lists him as a life coach, entrepreneur, author and speaker who specialized in marriage and business.
He was introduced to pickleball about 20 years ago and trademarked the phrase "Pickleball Rocks" in 2009. He started his apparel company making T-shirts emblazoned with the slogan. He later incorporated All About Pickleball LLC, a corporation that does business as Pickleball Rocks. Grubbs was a well-respected figure in the pickleball community and has traveled the world playing the game and promoting his business.
What is Grubbs accused of doing?
Grubbs used his connections and friendships in the pickleball community and access to the tournaments to find people to invest in Pickleball Rocks.
In January, the Indiana Secretary of State securities division sent Grubbs a cease and desist warning to stop issuing promissory notes. The securities division says Grubbs would offer prospective investors an "ever recurrent" last-available investment slot amongst a small group of investors.
Investors said he frequently missed or ignored repayment deadlines.
More: Indiana Secretary of State orders pickleball apparel CEO to halt alleged investment scheme
State intervention not first hammer to drop
Prior to the warning from the Indiana Secretary of State, Grubbs was already facing several lawsuits in Franklin County Court from investors seeking to recoup loans in default.
Three cases in 2023 resulted in default judgements and fees totaling more than $9 million after Grubbs failed to respond to the complaints and answer the petitions.
More investors seeking to recoup their money
One group of investors is trying a different method to get their money back from Grubbs: a forced involuntary bankruptcy.
The investors filed their Chapter 7 bankruptcy petition in December. The move would require Grubbs to sell his assets to repay investors. In a respond filed on Jan. 23, Grubbs told the court he couldn't afford a lawyer. He said he only has $800,000 in low-income real estate assets and $150,000 in Pickleball Rocks assets.
So what happened to the money?
That remains to be seen. Investors who spoke with IndyStar say Grubbs did not appear to live lavishly. They're hoping to find the answer to that as well.
Read the full story for more on Rodney Grubbs and Pickleball Rocks.
Contact IndyStar investigative reporter Alexandria Burris at aburris@gannett.com. Follow her on X, formerly Twitter, at @allyburris.
This article originally appeared on Indianapolis Star: Here's what you need to know about Rodney Grubbs and Pickleball Rocks
