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Friday, February 27, 2009

Darren Oliver Among Those Ripped Off By Texas Financier

Darren Oliver made a smart choice in accepting arbitration this offseason, but a poor one by getting involved with Texas financier Robert Allen Stanford, who has bilked $8 billion from his marks.
"There are a lot more guys that people don't even know about," Oliver said from the Angels' camp in Tempe. "A lot of them are retired. I feel bad for the people who are 70 years old and have to get money every month and can't even get any money out. What about them?"

Oliver, like fellow major leaguers Johnny Damon, Xavier Nady, Carlos Pena, Mike Pelfrey, Jacoby Ellsbury, Adrian Beltre and Scott Eyre, did not invest money directly with the Stanford Financial Group, but rather through investment professionals who steered him toward Stanford products.

The situation is more serious for some than others. The Philadelphia Phillies recently gave Eyre an undisclosed advance on his $2 million salary because he was unable to gain access to the money in his bank accounts and pay his bills.

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