Yankee players allegedly fall victim to massive scam

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Yankee Players Allegedly Fall Victim To Massive Scam


Yankee great Jorge Posada, known for catching hits on the field, caught a jaw dropping hit ... financially.

Vice Sports reports the retired baseball star is reportedly suing his money agents Juan Carlos Collar and Anthony Fernandez for allegedly stealing more than $11 million through a major scam.

They first began managing his finances in 1999 and the civil suit claims the agents blatantly mismanaged his money and defrauded him into investing in a sketchy real-estate deal in 2005 and several high-risk hedge-fund transactions a few years later.


Another former Yankee pitcher, Jose Contreras, claims he was also scammed out of more than $2 million by the duo. They had the authority to write checks on behalf of their clients, file their tax returns and pretty much make whatever investments they wanted without approval.

The suit claims Posada and his wife Laura were "naive" and "inexperienced" investors. It wasn't until an independent accountant audited the couple's finances that they became aware of the alleged wrongdoing.

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Yankee players allegedly fall victim to massive scam
MIAMI, FL - OCTOBER 14: Jorge Posada, Laura Posada and Rodner Figueroa attend I Love Venezuelan Foundation Event Cantina La No. 20 at The Icon Brickell on October 14, 2014 in Miami, Florida. (Photo by Rodrigo Varela/Getty Images)
NEW YORK, NY - SEPTEMBER 25: (NEW YORK DAILIES OUT) Derek Jeter #2 of the New York Yankees greets former teammate Jorge Posada after a game against the Baltimore Orioles at Yankee Stadium on September 25, 2014 in the Bronx borough of New York City. The game was Jeter's last at Yankee Stadium and the Yankees defeated the Orioles 6-5. (Photo by Jim McIsaac/Getty Images)
NEW YORK, NY - AUGUST 23: Former New York Yankees Jorge Posada (L) and Andy Pettitte attend a ceremony honoring former manager Joe Torre prior to a game against the Chicago White Sox at Yankee Stadium on August 23, 2014 in the Bronx borough of New York City. The Yankees retired Torre's #6 and presented a plaque that will be installed in Monument Park The Yankees defeated the White Sox 5-3. (Photo by Jim McIsaac/Getty Images)
NEW YORK, NY - APRIL 07: Former New York Yankee Jorge Posada and Derek Jeter #2 of the New York Yankees are introduced before their home opener against the Baltimore Orioles on April 7, 2014 at Yankee Stadium in the Bronx borough of New York City. (Photo by Al Bello/Getty Images)
NEW YORK, NY - JANUARY 24: Jorge Posada addresses the media during a press conference to announces his retirement from the New York Yankees at Yankee Stadium on January 24, 2012 in the Bronx borough of New York City. (Photo by Mike Stobe/Getty Images)
NEW YORK, NY - OCTOBER 06: (NEW YORK DAILIES OUT) Jorge Posada #20 of the New York Yankees reacts after he was called out in the eighth inning against the Detroit Tigers during Game Five of the American League Division Series at Yankee Stadium on October 6, 2011 in the Bronx borough of New York City. The Tigers defeated the Yankees 3-2 to win the best of five series 3 games to 2. (Photo by Jim McIsaac/Getty Images)
ANAHEIM, CA - SEPTEMBER 09: Jorge Posada #20 of the New York Yankees looks on before the game against the Los Angeles Angels of Anaheim at Angel Stadium of Anaheim on September 9, 2011 in Anaheim, California. (Photo by Lisa Blumenfeld/Getty Images)
ANAHEIM, CA - SEPTEMBER 10: Catcher Jorge Posada #20 of the New York Yankees looks on during the game against the Los Angeles Angels of Anaheim at Angel Stadium of Anaheim on September 10, 2011 in Anaheim, California. (Photo by Lisa Blumenfeld/Getty Images)
NEW YORK, NY - SEPTEMBER 03: Jorge Posada #20 of the New York Yankees in action against the Toronto Blue Jays on September 3, 2011 at Yankee Stadium in the Bronx borough of New York City. The Yankees defeated the Blue Jays 6-4. (Photo by Jim McIsaac/Getty Images)
BALTIMORE, MD - AUGUST 29: Jorge Posada #20 of the New York Yankees warms up before the game against the Baltimore Orioles at Oriole Park at Camden Yards on August 29, 2011 in Baltimore, Maryland. The Yankees won 3-2. (Photo by G Fiume/Getty Images)
NEW YORK, NY - AUGUST 13: Jorge Posada #20 of the New York Yankees (far right) is congratulated after hitting a grand slam in the bottom of the fifth inning against the Tampa Bay Rays at Yankee Stadium on August 13, 2011 in the Bronx borough of New York City. (Photo by Christopher Pasatieri/Getty Images)
TAMPA, FL - FEBRUARY 20: Jorge Posada #20 of the New York Yankees gets ready to bat during the first full team workout of Spring Training on February 20, 2011 at the George M. Steinbrenner Field in Tampa, Florida. (Photo by Leon Halip/Getty Images)
Elvis Andrus of the Texas Rangers steals home in front of Jorge Posada of the New York Yankees during the first inning in Game 2 of the ALCS at Rangers Ballpark in Arlington in Arlington, Texas, Saturday, October 16, 2010. (Ron Jenkins/Fort Worth Star-Telegram/MCT via Getty Images)
NEW YORK - NOVEMBER 09: (L-R) Laura Posada, sportscaster Suzyn Waldman and Jorge Posada attend The Jorge Posada Foundation's Decade of Difference celebration on November 9, 2011 in New York City. (Photo by Amy Sussman/Getty Images for Jorge Posada Foundation)
NEW YORK, NY - SEPTEMBER 25: Jorge Posada #20 of the New York Yankees presents Mariano Rivera #42 with a FDNY fire helmet during a ceremony to celebrate his record 602 career save prior to the game against the Boston Red Sox on September 25, 2011 at Yankee Stadium in the Bronx borough of New York City. (Photo by Nick Laham/Getty Images)
CINCINNATI, OH - JUNE 22: Jorge Posada #20 of the New York Yankees breaks a tie game with a two-run home run in the sixth inning against the Cincinnati Reds at Great American Ball Park on June 22, 2011 in Cincinnati, Ohio. The Yankees defeated the Reds 4-2. (Photo by Joe Robbins/Getty Images)
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