San Francisco Giants pitcher Jake Peavy, Denver Broncos quarterback Mark Sanchez and former major-league hurler Roy Oswalt were defrauded of $30.4 million by their investment adviser, according to the Securities and Exchange Commission.
The agency said Ash Narayan ran a Ponzi-like scheme to swindle funds from the three athletes. Narayan wasn't been criminally charged but the SEC obtained a court order to freeze his assets as part of a lawsuit it filed in Dallas.