ENGLEWOOD, Colo. — Broncos quarterback Mark Sanchez fell victim to a fraud scheme that cost him and some Major League Baseball players millions of dollars.
A financial adviser got the players to invest in his company, the Ticket Reserve Corp. It was an online sports and entertainment ticket company.
Ash Naryan is accused of forging the players’ investments and turning them into larger amounts.
Sanchez had agreed to invest $100,000 to the Ticket Reserve, but the adviser then is accused of forging those documents, which caused Sanchez to put in more than $7 million.
The adviser agreed to repay the investments in March, but the players have yet to see any money.
A federal lawsuit accuses Naryan of cheating Sanchez, San Francisco Giants pitcher Jake Peavy, former Houston Astros pitcher Roy Oswalt and some others out of more than $30 million in the alleged scheme.