Ballplayers at the top of a ponzi scheme

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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.

Padres release Phil Hughes

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The Padres have released right-hander Phil Hughes. He was recently designated for assignment.

Hughes was traded from the Twins to the Padres at the end of May in a deal that was, essentially, the Padres acquiring a Competitive Balance pick and agreeing to pick up half of Hughes outstanding salary, which is $13.2 million in 2019. The Padres used him for 16 relief appearances but he was terrible, posting a 6.10 ERA.

The 32-year-old is a 12-year veteran. Given that he’ll basically be free to anyone who wants him, it’s not unreasonable to think he’ll get a non-roster invite to someone’s spring training next year, but it could very well be the end for him as well.