Financial Advisor Banned For Cheating Dallas Cowboys QB And MLB Players

The reason so many pro athletes go bust not long after their playing careers are over isn't always because they are spendthrifts. Sometimes--far too often it seems--they are simply cheated out of their money.

Latest example: Ash Narayan, the former managing director of the Orange County, California office of RGT Capital Management, will be barred from associating with any broker-dealer or adviser for steering millions of dollars entrusted to him by pro-athletes into unsuitable investments that would benefit him personally and falsely claiming to be a CPA, according to the SEC.

Narayan, an adviser to Mark Sanchez, a quarterback for the Dallas Cowboys, and baseball pitchers Jake Peavy of the San Francisco Giants and Roy Oswalt of the Colorado Rockies, as well as other pro athletes, ran into trouble when he began funneling his clients' funds into the Ticket Reserve, a fledgling online sports entertainment and ticketing firm that counted Narayan as a board member, according to the SEC.

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