Jake Peavy and Roy Oswalt were two athletes that may have lost millions of dollars to investment fraud:
On Tuesday, the secret was revealed when the Securities and Exchange Commission said it filed suit in U.S. District Court in Dallas seeking to freeze the assets of the adviser, Ash Narayan, and recoup more than $33 million he allegedly took from three professional athletes under the fraudulent fraudulent scheme.
Bloomberg News reported the athletes were Peavy, retired pitcher Roy Oswalt and NFL quarterback Mark Sanchez. The trio invested $30.4 million with Narayan and paid him another $1.7 million in fees, according to the civil filing.
Peavy would not discuss specifics of the case, saying he was bound to confidentiality, but revealed that he left the team briefly to provide a deposition and admitted the potential loss of millions distracted him at times on the field. He said he learned about the alleged fraud and money loss on the first day of spring training.
Seems like the trio would make good owners of the Mets.
from baseballmusings.com http://ift.tt/28N5nBc
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