Ballplayers at the top of a ponzi scheme

Leave a comment

Here’s Scott Boras’ comment back in February when it was revealed that several baseball players were among the clients of suspected fraudster Robert Allen Stanford:

“The broker dealers the players have chosen have advised our
personal management auditors the players are not in jeopardy of losing
money.”

Here’s the news from yesterday:

The lawyer trying to recover the money from R. Allen Stanford’s
purported Ponzi scheme wants seven current and former Major League
Baseball stars who had invested with the accused swindler to turn over
millions of dollars, mostly of the players’ own money.

Ralph S. Janvey, whom the Securities and Exchange Commission
appointed as the “receiver” in the case, wants to take $9.5 million
from the players, an amount that mostly consists of their initial
investments, so that the athletes’ money can be split up among all of
Mr. Stanford’s purported victims.

“The fact that the [ballplayers] are innocent investors and
committed no wrongdoing does not entitle them to retain proceeds
received from the fraudulent” scheme, lawyers for Mr. Janvey wrote in a
filing last week with the U.S. District Court in Dallas.

Oops.

The players who, if the motion is granted, stand to lose millions
include Greg Maddux, Johnny Damon, J.D. Drew, Andruw Jones, Carlos
Pena, and Jay Bell.

The question I asked back in February and for which I’d still like
an answer is whether Scott Boras — who makes a big deal about how he’s
a full-service representative — steered these guys to Stanford. Maybe
someone in a position to should ask him.

Yasmany Tomas to undergo season-ending core muscle surgery on Tuesday

Christian Petersen/Getty Images
1 Comment

The Diamondbacks announced that outfielder Yasmany Tomas will undergo season-ending core muscle surgery on Tuesday in Philadelphia. Tomas has been on the disabled list since June 3 with right groin tendinitis and experienced multiple setbacks during his rehab.

Tomas, 26, was in the midst of a disappointing year before the injury, batting .241/.294/.464 with eight home runs and 32 RBI in 180 plate appearances.

The Diamondbacks acquired J.D. Martinez from the Tigers a month ago to help fill the gap in the outfield. Prior to that trade, Chris Herrmann and Daniel Descalso were handling left field. The D-Backs entered Monday’s action holding the second Wild Card slot in the National League by 2.5 games over the Brewers and trailed the Rockies by one game for the first slot.

Report: Steven Matz has been pitching through pain, may need elbow surgery

Mike Stobe/Getty Images
5 Comments

Newsday’s Marc Carig reports that Mets starter Steven Matz has been pitching through pain for most of the season. He may need surgery to fix a nerve issue in his elbow. Matz was sidelined in spring training with an elbow injury and made his regular season debut on June 10.

Matz, 26, has struggled over 13 starts, posting a 6.08 ERA with a 48/19 K/BB ratio in 66 2/3 innings. Many were scrambling for explanations for his pitching woes and now they have it.

According to Carig, the Mets let Matz skip his bullpen sessions to help him pitch through the pain. Given the Mets’ shoddy history of dealing with injuries, that’s not a good look for the club.

Carig noted on Twitter that Jacob deGrom offers some optimism for Matz’s case. deGrom underwent right elbow surgery to repair ulnar nerve damage last September and bounced back to have a great season this year.