Ex-NFL Player Convicted In $328M Fraud Scheme, Facing Prison Sentence

Former NFL player Keith Gray was found guilty of orchestrating a massive $328 million fraud scheme ... with the former UCONN captain being convicted this week on nine counts in federal court.

The Department of Justice shared news of the verdict Friday morning, saying Gray was the mastermind of a scheme to bill Medicare for "unnecessary genetic tests designed to evaluate the risk of various cardiovascular diseases and conditions."

In reality, the DOJ says there was no medical need for the tests ... but Gray kept billing Medicare, to the tune of an astounding $328 million, which resulted in a return of around $54 million from the government agency.

The DOJ says Gray then laundered the money by purchasing expensive luxury vehicles, including a Mercedes-Benz SUV worth more than $154,000 and a Dodge Ram Truck worth more than $142,000.

In the end, the Jury convicted Gray of conspiracy to defraud the United States and to pay and receive health care kickbacks, five counts of violating the Anti-Kickback Statute and three counts of money laundering. Gray faces 10 years in prison on each count -- and will be sentenced at a later date.

Gray -- who started all 13 games at center for the Huskies in 2007 -- joined the Carolina Panthers as an undrafted free agent in 2009. He was released a short time later, before catching on with the Indianapolis Colts practice squad, before they ultimately released him, too.