{"id":79493,"date":"2016-06-21T20:00:57","date_gmt":"2016-06-22T00:00:57","guid":{"rendered":"https:\/\/breaking911.com\/?p=79493"},"modified":"2016-06-21T20:01:15","modified_gmt":"2016-06-22T00:01:15","slug":"major-pro-athletes-defrauded-in-ponzi-like-scheme","status":"publish","type":"post","link":"https:\/\/breaking911.com\/major-pro-athletes-defrauded-in-ponzi-like-scheme\/","title":{"rendered":"Major Pro Athletes Defrauded In Ponzi-Like Scheme"},"content":{"rendered":"<p>Former New York Jets quarterback Mark Sanchez and other professional athletes were victimized in a Ponzi-like scheme orchestrated by the same investment adviser, the Securities and Exchange Commission said.<\/p>\n<p>Sanchez, along with Jake Peavy and Roy Oswalt, were defrauded out of about $30 million, according to a recently unsealed lawsuit in Dallas federal court. The athletes all used the same broker, Ash Narayan, formerly of RGT Capital Management. The adviser appealed to the athletes&#8217; Christian faith and interest in charitable work, the SEC said.<\/p>\n<p>Narayan concealed multiple conflicts of interest from investors, the SEC said in its lawsuit against him. He directed the athletes&#8217; cash to The Ticket Reserve Inc., which allows fans to reserve face-value tickets to sporting events where the teams have yet to be determined, the SEC said. He was on the company&#8217;s board of directors, owned more than 3 million shares and was its primary fundraiser &#8212; raising more than 90 percent of the company&#8217;s investment capital, the agency said.<\/p>\n<p><em><strong>(c) 2016, Bloomberg \u00b7 <span class=\"ng-binding ng-scope\">Matt Robinson<\/span><\/strong><\/em><\/p>\n<figure id=\"attachment_79494\" aria-describedby=\"caption-attachment-79494\" style=\"width: 300px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/breaking911.com\/wp-content\/uploads\/2016\/06\/download18.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-79494\" src=\"https:\/\/breaking911.com\/wp-content\/uploads\/2016\/06\/download18.jpg\" alt=\"(Photo source: bgracedmv.sportsblog.com)\" width=\"300\" height=\"168\" \/><\/a><figcaption id=\"caption-attachment-79494\" class=\"wp-caption-text\">(Photo source: bgracedmv.sportsblog.com)<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Former New York Jets quarterback Mark Sanchez and other professional athletes were victimized in a Ponzi-like scheme orchestrated by the same investment adviser, the Securities and Exchange Commission said. Sanchez, along with Jake Peavy and Roy Oswalt, were defrauded out of about $30 million, according to a recently unsealed lawsuit in Dallas federal court. The [&hellip;]<\/p>\n","protected":false},"author":5409,"featured_media":79494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":[]},"categories":[36],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Major Pro Athletes Defrauded In Ponzi-Like Scheme - Breaking911<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/breaking911.com\/major-pro-athletes-defrauded-in-ponzi-like-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Major Pro Athletes Defrauded In Ponzi-Like Scheme - Breaking911\" \/>\n<meta property=\"og:description\" content=\"Former New York Jets quarterback Mark Sanchez and other professional athletes were victimized in a Ponzi-like scheme orchestrated by the same investment adviser, the Securities and Exchange Commission said. Sanchez, along with Jake Peavy and Roy Oswalt, were defrauded out of about $30 million, according to a recently unsealed lawsuit in Dallas federal court. The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/breaking911.com\/major-pro-athletes-defrauded-in-ponzi-like-scheme\/\" \/>\n<meta property=\"og:site_name\" content=\"Breaking911\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Breaking911\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-22T00:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-06-22T00:01:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/breaking911.com\/wp-content\/uploads\/2016\/06\/download18.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"168\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"T. 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