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Sports Biz
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When news spread of the alleged fraud at Stanford Financial, one of the biggest sighs of relief came out of the mouth of NBA player Eduardo Najera.
Najera, who currently plays for the New Jersey Nets, told CNBC on Friday night that he had money invested with Stanford as recently as last summer.
"I was shocked, I couldn't believe it," said Najera, who said he was paid as an endorser for Stanford for four years. "But it's not like I did it two weeks ago. I'm just happy."
Najera said he transferred his investments, which included his personal account as well as his trust, from Stanford to another institution when he changed financial advisors about eight months ago.
"I'm just happy I didn't have some of my friends put money there," Najera said.
As part of the endorsement deal, Allen Stanford donated $100,000 to the Eduardo Najera Foundation for Latin Achievement in March 2004.
Najera said he was brought on as an endorser for the company because a man who he bought his suits from in Houston left to work for Stanford.
Najera, a nine-year veteran of the league, said that, these days, the locker room is filled with financial talk.
Said Najera: "We all talk about the crisis, we all talk about the markets, we all talk about the banking problems."
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