How athletes and entertainers like Shohei Ohtani get financially duped by those they trust [Los Angeles Times (CA)]
ADIDAS AG S/ADR (ADDYY)
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Source: Los Angeles Times
The former financier is in the 14th year of a 110-year prison sentence after being convicted in 2012 for selling $7 billion in fraudulent certificates of deposits in the Caribbean island of Antigua. He also was required to pay a judgment of $5.9 billion, much of which was intended to go to victims of his crimes. Among those affected by his elaborate Ponzi scheme were seven Major League Baseball stars represented by super agent Scott Boras Greg Maddux Johnny Damon Bernie Williams J.D. Drew Andruw Jones Jay Bell and Carlos Peña Boras did not recommend investing with Stanford, the players said, but pointed them toward a financial advisor who did so. It was that easy for players to have their bank accounts frozen in 2009 by the U.S. Securities and Exchange Commission while authorities investigated the case despite putting their trust in advisors with stellar reputations and a wealth of experience. Damon complained during spring training that year that he couldn't pay bills and told
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