Ash Narayan, financial advisor and apparently a professional schemer, is being investigated by the SEC for stealing millions of dollars from various athletes accounts, using “forged or unauthorized signatures”. Narayan then took the stolen money and invested it into a dwindling online ticket company he’s currently vested in.
Among the documents in the SEC’s lawsuit ledger contained a detailed list of each athlete that was scammed and the amount:
San Francisco Giants pitcher Jake Peavy: $15.1 million
Denver Broncos quarterback Mark Sanchez: $7.8 million
Former MLB pitcher Roy Oswalt: $7.6 million
Analyst and former NBA player Austin Croshere: $125,000
Colorado Rockies pitcher Tyler Matzek: $25,000
Peavy, Sanchez and Oswalt said they trusted Narayan because he was Christian, had worked with other athletes in the past and had even helped them set up their investment accounts.
Narayan was on the board of The Ticket Reserve, and made about $2 million from the company, according to the SEC’s statement.
The CEO and COO of ticket reserve, Richard Harmon and John Kaptrosky, are also being investigated since they were aware of the scheme and paid Narayan’s finder’s fees with the stolen money.
This past Wednesday the NFL Players Association (NFLPA) sent a warning letter to the players. The organization also suspended Narayan as a registered financial adviser for the union.
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