Jorge scammed out of 11 MILLION bucks

[cheekydave]

Poor Georgie
 
 
http://www.dailymail.co.uk/news/article-2875300/New-York-Yankees-catcher-Jorge-Posada-scammed-11-MILLION-jaw-dropping-money-management-scam.html
 
 
 
New York Yankees catcher Jorge Posada is scammed out of $11 MILLION in 'jaw-dropping' money-management scam
 
 

• Jorge Posada, 43, was approached by Cuban-American duo in 1999
• Juan Carlos Collar and Anthony Fernandez requested blind sign-offs
• In one scam they invested $3m of Posada's money in their own land but he still has no legal stake in it
• Posada and his wife Laura are suing the pair for $11.2m in damages 
• 
  

 

[Leather]

What a dope.

 

[Lowrielicious]

So the nickname really wasn't because of the ears then?

 

[mauidano]

So the nickname really wasn't because of the ears then?

Lock the thread. We have a winner.

 

[NDame616]

 
Poor Georgie
 
 
http://www.dailymail.co.uk/news/article-2875300/New-York-Yankees-catcher-Jorge-Posada-scammed-11-MILLION-jaw-dropping-money-management-scam.html
 
 
 
New York Yankees catcher Jorge Posada is scammed out of $11 MILLION in 'jaw-dropping' money-management scam
 
 

• Jorge Posada, 43, was approached by Cuban-American duo in 1999
• Juan Carlos Collar and Anthony Fernandez requested blind sign-offs
• In one scam they invested $3m of Posada's money in their own land but he still has no legal stake in it
• Posada and his wife Laura are suing the pair for $11.2m in damages 
•  

 

First, his wife needs to wear more make up:

 
Second, I'm not a lawyer, nor do I play on on TV (but I've seen almost every episode of the Practice) but isn't there SOME responsibility on Dumbo's part to, like, make sure these guys are legit? He blindly signed paperwork....can he turn around and then complain about it? Can't the judge say "hello, dummy...why did you sign this?"

 

[Grunherz54]

 
Juan Carlos Collar and Anthony Fernandez requested blind sign-offs

 
 
He should have washed hands of them at that point.

 

[StuckOnYouk]

Was he one of the many Yankees who took part in Giambi's "golden thong" practice when they were in slumps?
If so, then yes he is dumb

 

[cromulence]

Never mind. Keep going.

 

[Rovin Romine]

First, his wife needs to wear more make up:
 
 
Second, I'm not a lawyer, nor do I play on on TV (but I've seen almost every episode of the Practice) but isn't there SOME responsibility on Dumbo's part to, like, make sure these guys are legit? He blindly signed paperwork....can he turn around and then complain about it? Can't the judge say "hello, dummy...why did you sign this?"

 
It depends.  Usually if you empower someone to act for  you, they have certain responsibilities ("fiduciary duties") which means they can't grossly take advantage of you.  That said, they can still fuck up relatively normal business deals with the result that you lose money.  
 
Assuming he's got a good case, the second issue is if these guys have any assets for dumbo to go after.   If not, he's probably paying his attorney for a nice piece of paper (a final judgement) that he can frame and hang on his wall.  Although there are a surprising minority of people who know that and will sue just for vindication on the issue. 

 

[Smiling Joe Hesketh]

 
 
He should have washed hands of them at that point.

 
Baseball players are not all idiots, but the majority of them aren't as educated or sophisticated as the general public. Posada's been a profession since age 18 or so, so there's been very little time in his life to learn about other things. And these guys approached him when he was just starting to earn big bucks and he felt lost at sea with what to do with it, he might have trusted them if they were presentable enough. Most players just want to concentrate on baseball.
 
You'd hope the teams themselves would offer a support network for topics like this, and maybe the Yankees did, but of course oftentimes the players don't fully trust the clubs.

 

[rembrat]

I think Grunherz was making a funny about Jorge not washing his hands after peeing on them before a game to get a better grip.

 

[Smiling Joe Hesketh]

Dammit.

 

[steveluck7]

Well, they say it's better to be pissed off than pissed on. Jorge is one person who can actually verify that

 

[Hee Sox Choi]

WOW:
 
'The Posadas never in any way used other money managers, other investments. Everything was through these guys.'

 

[Leather]

"No, Jorge, I'm telling you to think harder about your financial planning!"
 

 

[hbk72777]

I bet this deal ain't looking too bad to him now.
 
At least he'd have a physical item to show for it
 
http://zackhample.mlblogs.com/2005/08/24/the-20000-ground-rule-double/