Have Yankees Damon and Nady Struck Out as Stanford Investors?
New York Yankees outfielders Johnny Damon and Xavier Nady are among those whose bank accounts and other financial assets have been frozen amid the continuing investigation into the dealings of tycoon banker R. Allen Stanford. Damon, 35, is set to earn $13 million this season, while Nady, 30, will earn $6.55 million. However, because of their involvement in funds linked to Stanford International Bank, the institution at the center of an alleged $8 billion investment scam, neither player can pick up a dinner tab. The Securities and Exchange Commission has frozen the assets of three of Stanford’s holdings — Stanford International Bank, Stanford Group Co., and Stanford Capital Management – as they conduct an investigation of the companies. Stanford is accused of peddling certificates of deposit and promising high-interest rate returns which the SEC says were false and supported by falsified data. Damon and Nady, who share the same agent, Scott Boras, and financial management firm, Personal
