SEC: Adviser scammed millions from pro athletes

June 21, 2016 7:36 PM

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Denver Broncos quarterback Mark Sanchez and other professional athletes were scammed out of millions of dollars by an investment adviser who gained their trust by stressing his Christian faith and claiming to be a certified public accountant, a newly unsealed federal lawsuit charges.

Sanchez, San Francisco Giants pitcher Jake Peavy and Roy Oswalt, a retired pitcher who starred with the Houston Astros and other teams, were among those defrauded in the alleged scheme, according to the civil lawsuit filed in Texas by the Securities and Exchange Commission.

Also read: Credit Suisse prevails in lawsuit seeking $300 million for brokers: U.S. judge

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