Nov 17, 2009, 9:20 AM EST
Wilpon-bilker Bernie Madoff wasn’t the only fraudster with baseball connections. This year’s other high profile Ponzi artist — Allen Stanford — had multiple baseball players as clients, all of whom had a portion of their assets frozen as the case against the Texas investor started to break last February.
Eventually the funds became unfrozen and the ballplayers — including Johnny Damon, Greg Maddux, Carlos Pena, Mike Pelfrey and Xavier Nady — withdrew their cash. As a result, all of them were facing lawsuits from the government seeking to grab back money on the basis that it should rightly go to other ripped-off investors. But now they’re in the clear, as a U.S. appeals court ruled yesterday that such lawsuits — known as clawbacks — can’t go forward.
Whether Johnny Damon’s new found liquidity will cause him to lower his contract demands remains to be seen.
- MLB, NPB nearing new posting system agreement 4
- Report: Talks between the Mets and Curtis Granderson have “intensified” 28
- Yankees agree to seven-year, $153M contract with free agent outfielder Jacoby Ellsbury 155
- Marlins sign free agent catcher Jarrod Saltalamacchia to three-year, $21 million contract 42
- Carlos Beltran likely to land with the Royals? 17
- Yankees agree to seven-year, $153M contract with free agent outfielder Jacoby Ellsbury (159)
- When will the Yankees regret the Jacoby Ellsbury contract? (91)
- Robinson Cano met with the Mariners in Seattle (81)
- Yankees’ Jacoby Ellsbury signing to pay big dividends… for now (79)
- Robinson Cano says he never asked for $300 million (70)