Yankee players allegedly fall victim to massive scam

Yankee Players Allegedly Fall Victim To Massive Scam
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.



Jorge Posada - Salary by Season FindTheBest

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