Articles Tagged with Mark Sanchez

The Securities and Exchange Commission has gotten a court order to freeze the assets of investment adviser Ash Narayan. He is accused of bilking Denver Broncos quarterback Mark Sanchez, ex-Major League Baseball pitcher Roy Oswalt, and San Francisco Giants pitcher Jake Peavy, and other clients of millions of dollars in a Ponzi-like scam.

Also named in the case are The Ticket Reserve Inc., an online sports and entertainment ticketing business, its COO John A. Kaptrosky and CEO Richard Harmon. Narayan, who used to be managing director of Dallas-based RGT Capital Management, was on the ticket company’s board. He owned over 3 million shares of The Ticket Reserve Inc. stock and he was the primary person raising funds for the company.

According to the regulator, Narayan took over $33M from clients’ accounts and moved the funds to The Ticket Reserve. He allegedly did this without their knowledge or permission and he used unauthorized or forged signatures. Narayan also is accused of making Ponzi-like payments using newer investors’ money to pay earlier investors. Meantime, he was purportedly was paid almost $2M in concealed compensation.

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