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Ex-Major League Outfielder Closer to Ponzi Scheme Recovery – Bloomberg BNA

August 4, 2017 In The News

A reformed con man is closer to recovering the $2 million he lost as a victim of a Ponzi scheme.  He borrowed the money from retired Major League Baseball outfielder Shannon Stewart who played for the Toronto Blue Jays, the Minnesota Twins, and the Oakland Athletics.  Any recovered funds will be returned to Stewart.

Jacob Zamansky told Bloomberg BNA:  “Even a con man can be conned; [i]f courts see wrongdoing, as it did in this case, they will enforce even a con man’s rights to recover from an investment scheme.”  Zamansky, who represents professional athlete victims of investment scams, added, “[a]thletes are constantly being preyed upon by unscrupulous advisers because they make a lot of money in a short amount of time, making them particularly vulnerable.”

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