Wednesday, February 25, 2009

Stenson Admits To Possible Losses With Stanford

((HT: Golfweek))

Alex Miceli of Golfweek Magazine caught up with professional golfer Henrik Stenson ((pictured, thanks Tracy Wilcox/GolfWeek)) the day before the Accenture Match-Play Championships in Arizona. Stenson admitted in the article that he has some of his assets frozen in Antigua because of investments made with R. Allen Stanford.

From the Miceli piece:
Stenson, 32, of Sweden, signed a three-year endorsement contract with Stanford in June 2008. At about that time, he also transferred a considerable amount of his personal wealth into a Stanford bank account.

“Not all my money,” Stenson said of the amount he has invested at Stanford. “But I have quite a big part of my own savings and investments with them.”

Stenson’s agent, Johan Elliot at Sportyard, has been in contact with Stanford Financial representatives in Europe, but Stenson said they have gotten few answers.

“I don’t know anything more than I read in the papers,” Stenson said. “So it’s obviously not a happy situation for a whole lot of people.”

According to another player agent who was approached by Stanford to sponsor two of his players, the Stanford sponsorship deals included putting money back into a newly opened Stanford Bank account, similar to what Stenson did as part of his deal.

However, Stenson took it to another level by investing his own money.

“I’ve heard some interesting stories, especially in the last few days with Stanford,” Trevor Immelman said last week when the Stanford news broke. “A lot of guys had money with Stanford, so hopefully they can recoup that.”
Those of us at OSG HQ aren't holding our breath...
Just ask the Mets how that whole Bernie Madoff thing os going...

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