INDIANAPOLIS — The FBI is seeking to identify potential victims who invested in the now-defunct Pickleball Rocks company following Wednesday's raid on its former owner's Brookville home.
The scandal, which has rocked the pickleball world enough to land in the Wall Street Journal, involved millions of dollars.
According to a release from the FBI's Indianapolis Division, on the morning of Dec. 4, federal agents, alongside the IRS-CI, the Indiana Secretary of State Securities Division, Brookville Police Department and Franklin County Sheriff's Department, raided the home of Grubbs, who is accused of swindling investors who bought into his pickleball equipment company.
The FBI is asking potential victims to visit their website and fill out a form to help with the investigation.
A new Pickleball Rocks
The assets, websites and brands associated with Grubbs were auctioned off as part of bankruptcy proceedings.
A group of entrepreneurs and pickleball enthusiasts in Indianapolis bought the name and much of the merchandise and started a new Pickleball Rocks company. According to the Indiana Secretary of State's website, the new business was licensed in August of 2024.
On the phone, one of the owners told 13News "(Grubbs) is not involved and will never be involved" in the new Pickleball Rocks.
The new Pickleball Rocks inherited the old company's Facebook page and posted announcing the new ownership team. They also made a comment, seeming to address the scandal:
To the Pickleball Community:
As the new owners of Pickleball Rocks (PBR), we fully understand the frustration, anger, and disappointment stemming from previous ownership. We want to assure you that we have no ties to the former owner.
We are local Indianapolis businesspeople with families and a passion for pickleball. When we acquired PBR’s assets at auction, we understood that the funds would be legally distributed to investors and fans of the brand. Although we wish those funds could make everyone whole, we know they fall short of doing so.
PBR is now privately owned, with no plans to seek outside investors. We’re dedicated to being good neighbors and administrators of this brand. We ask for a fair chance to bring the joy of pickleball back and respectfully ask not to be judged for past misdeeds. They affect not only our business but also our families and our future.
Thank you for hearing us out.
Marshall, Dave, and Tommy