Sunday, April 21, 2013

Dolphins' Jared Odrick victimized by investment advisor

You've heard the story before. Pro athlete with a lot of money puts his trust in someone that he really doesn't know but figures what's the worse that can happen. All of a sudden, the athlete gets taken for a lot of money before he catches on.

This story involving Miami Dolphins defensive end Jared Odrick is just a bit different than the rest. Odrick was ripped off by an investment advisor. Here comes the twist. The advisor was cleared by the NFLPA. Yes, the union that is supposed to protect people like Odrick from such predators green lighted the guy that ripped him off for a substantial amount of money.

Odrick has filed a lawsuit with the Financial Industry Regulatory Authority, claims he was one of more than 50 people swindled by Success Trade, the investment firm referred to Odrick.

“They cleared this guy,” said Jeffrey Erez, who along with his partner, Jeffrey Sonn, and Aaron Resnick is representing Odrick in the suit.

“That’s what the horrible part is. Jared’s a good kid. He did exactly what he was supposed to do.”

The “guy” to which Erez referred is Jinesh “Hodge” Brahmbhatt, a suburban Washington-based investment advisor who until recently was a registered stock broker at Success Trade Securities, Inc. — the subject of several fraud-related investigations.

And the “they” to which Erez referred is the NFL Players’ Association, which Erez claims gave Brahmbhatt “the stamp of approval” when Odrick inquired about him before investing.

An email requesting a comment from George Atallah, an NFLPA spokesman, was not immediately returned Saturday.

I feel bad for him and all people who get screwed like that. The answer is to have much more severe penalties for white collar crimes. On the other hand before giving someone the reins to your money you have must do your due diligence. Hopefully everything works out for Odrick and he learns something from this.

Andre Johnson hopes the Texans draft a receiver in the first round

Leave the drafting up to Andre Johnson and the Houston Texans would be drafting a wide receiver in the first round of the 2013 NFL Draft.

Johnson told reporters that he hopes the Texans draft a receiver in the first round with the 27th selection. The last time the Texans drafted a receiver in the first round was in 2003 when they drafted Johnson.

“I’d like to have another (receiver),” Johnson said Saturday at his annual football camp for kids. “I’m all for it. I’ve asked for it for awhile. The more weapons we have, the better it’ll be for the team.”

Kevin Walter has been released due to salary cap issues but Texans general manager Rick Smith drafted DeVier Posey and  Keshawn Martin in last year's draft and may not find the need to to one of the top rated receivers in the draft. Picking 27th the Texans are in best player available land right now.

But that won't keep Johnson from wishing that the team takes another receiver.

“If we’re able to add another guy, it would probably be the best group of receivers we’ve had since I’ve been here,” Johnson said. “Adding another guy (to go with) Posey, Lestar (Jean) and Keshawn — that’s a lot of talent. Not only would it be good for now, but it would be good for our future.”

“If we draft a receiver, I’m going to help him as much as I can,” Johnson said. “I’ll answer any questions he has because I want him to perform well.”

It remains to be seen if Johnson gets his wish granted but we all know that players don't necessarily make good general managers.