TEMPE, Ariz. (AP) -Los Angeles Angels reliever Darren Oliver is the latest major league to say he’s emeshed in an alleged $8 billion fraud by Texas financier R. Allen Stanford.
The Securities and Exchange Commission has filed a civil lawsuit against Stanford, accusing him of fraud that lured investors with sham promises of double-digit returns on certificates of deposit.
“You read about this stuff in the paper, but you don’t think it’s ever going to happen to you,” Oliver said Wednesday. “It’s like anything else. And then when it happens, you’re like, `Wow.”’
Stanford has drawn comparisons to money manager Bernard Madoff, who is accused of running a $50 billion Ponzi scheme.
The list of current and ballplayers whose money has been frozen because of government action against Stanford entities includes Adrian Beltre, Johnny Damon, Jacoby Ellsbury, Scott Eyre, Xavier Nady Carlos Pena and Bernie Williams.
Oliver believes there may be more victims.
at’s a pretty big company. I’m just a guy that had my money invested.”
As it stands now, Oliver has not lost his money.
“I’m thankful that my money is still safe; it’s just the assets that are frozen,” he said. “They tell me to just check on a week-to-week basis.”
Oliver agreed to a $3.66 million, one-year contract with the Angels in the offseason.
He went 7-1 with a 2.88 ERA in 54 relief appearances last season and is expected to fortify a strong Angels bullpen again.
“I’m not letting it affect me,” he said. “It’s going to be all about family. I’ve got two boys at home. You’ve got to be a father to your sons. We just do it year by year.”
For Oliver, it’s tough not to be reminded of his current financial status.
“I saw a picture of a lady today in the money section,” he said. “She was with that Bernie Madoff. She lost like a million dollars. She worked all her life. Could you imagine?
“What if I lost all my money? What am I going to do? I’m 38 years old. I’d be like everybody else out there that’s lost money.”
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