signs of becoming overextended. PharMor stores expanded into new lines, including sportswear. Meanwhile, Monus' decision to sponsor the World Basketball League placed severe financial pressure on the corporation. It was speculated that Mickey Monus' father Nathan was somehow able to escape an indictment despite seemingly significant involvement in the massive fraud. Dissolution In July 1992, board members of Phar-Mor alleged that financial books stored at the corporate headquarters showed that the company had inflated its profits by huge margins. It would be considered one of the largest frauds in US history. Court documents also indicated that Monus had embezzled about $10 million from the company, mainly to support his beleaguered World Basketball League and extravagant lifestyle. Monus' business partner David Shapira contacted federal agents, notified investors, and fired Monus, along with Phar-Mor's chief financial officer Patrick Finn. Unsecured claims against Monus totaled $4,104,121, while secured claims were calculated at $15,257,545. The subsequent collapse of the discount chain not only marked the end of Monus' tenure as a leading entrepreneur; it disillusioned residents of his hometown, who were still coping with the loss of the community's steel-manufacturing sector. Monus and Antonucci were forced to sell their stake in the Colorado Rockies. The scandal around Monus forced a last-minute search for a new owner; it was nearly sold to Tampa investors before being bought by Jerry McMorris. Legal proceedings Monus was eventually convicted of having embezzled $10 million. [He] was convicted of one count of conspiracy, two counts of bank fraud, five counts of wire fraud, two counts of mail fraud, two counts of filing false income tax returns tax evasion, 96 counts of interstate transportation of stolen property fence (criminal) (money) and one count of obstruction of justice. Monus was found guilty on the government's second attempt to try him; the first trial ended in a hung jury. He was later charged with jury tampering in the first trial, but was acquitted. He was sentenced to 19½ years in federal prison and served 10 years. The sentence was reduced after Monus cooperated with federal authorities (FBI) in a case against another Youngstown fraudster, Richard Goldberg. Youngstown State University Monus was also a major benefactor to Youngstown State University, serving as chairman of its board of trustees. It emerged that Ray Issac, the quarterback for the 1991 Youngstown State Penguins football team (which won the NCAA Division I-AA National Championship that year),