Post by Ff2 on Jun 23, 2016 8:17:29 GMT -5
USA TODAY Sports
Denver Broncos QB Mark Sanchez Was Allegedly Defrauded Of $7 Million
KHALID ALSHAMI
Mark Sanchez alleges that he was the victim of a fraudulent act that cost him $7 million.
Financial turmoil surrounds Denver Broncos quarterback Mark Sanchez, after his wealth manager allegedly invested at least $7 million of his money without approval.
Initial reports indicate that wealth manager Ash Narayan had invested $30 million from three pro athletes he represented, without approval, including the Broncos quarterback. An affidavit signed by Sanchez specified how much he personally lost.
Sanchez says in the affidavit that he agreed to invest only $100,000 in the Ticket Reserve, a company that sold seats to high-profile sporting events. The affidavit also says that Sanchez did not agree to make any further investments in the Ticket Reserve.
In the affidavit, Sanchez also asserts that Narayan invested “at least $7 million of my funds” in the Ticket Reserve without authorization. The affidavit indicates that Sanchez has since seen wire-transfer authorizations that he did not sign or authorize Narayan to sign.
“I therefore believe that the signatures were forged, faked, obtained without my knowledge or copied from other documents without my consent,” Sanchez testified.
The NFL Players Association has suspended Narayan indefinitely, pending revocation of his registrations as a certified NFLPA financial advisor.
San Francisco Giants pitcher Jake Peavy and former Colorado Rockies pitcher Roy Oswalt were the other two clients who lost funds as a result of Narayan's alleged actions.
Denver Broncos QB Mark Sanchez Was Allegedly Defrauded Of $7 Million
KHALID ALSHAMI
Mark Sanchez alleges that he was the victim of a fraudulent act that cost him $7 million.
Financial turmoil surrounds Denver Broncos quarterback Mark Sanchez, after his wealth manager allegedly invested at least $7 million of his money without approval.
Initial reports indicate that wealth manager Ash Narayan had invested $30 million from three pro athletes he represented, without approval, including the Broncos quarterback. An affidavit signed by Sanchez specified how much he personally lost.
Sanchez says in the affidavit that he agreed to invest only $100,000 in the Ticket Reserve, a company that sold seats to high-profile sporting events. The affidavit also says that Sanchez did not agree to make any further investments in the Ticket Reserve.
In the affidavit, Sanchez also asserts that Narayan invested “at least $7 million of my funds” in the Ticket Reserve without authorization. The affidavit indicates that Sanchez has since seen wire-transfer authorizations that he did not sign or authorize Narayan to sign.
“I therefore believe that the signatures were forged, faked, obtained without my knowledge or copied from other documents without my consent,” Sanchez testified.
The NFL Players Association has suspended Narayan indefinitely, pending revocation of his registrations as a certified NFLPA financial advisor.
San Francisco Giants pitcher Jake Peavy and former Colorado Rockies pitcher Roy Oswalt were the other two clients who lost funds as a result of Narayan's alleged actions.
