Add Jamie McMurray to the list of high-profile athletes who've found their cash ensnared in financial tangles thanks to bank mismanagement. Like baseball players Johnny Damon, Xavier Nady and others, McMurray has money with the Stanford Financial Group, the same Stanford currently under investigation in a multibillion-dollar fraud case.
McMurray has had five investment accounts frozen in the course of the investigation. According to the Dallas Morning News, Dallas court findings indicate that some of the funds in the accounts were designated for race team expenses, including payroll. Ouch.
McMurray purchased one of the CDs under investigation from Stanford International Bank, but it is apparently unconnected to the frozen accounts. According to the court filings, more than $308,000 was deposited into two of McMurray's accounts on Feb. 17 and 18. These deposits were, according to the filing, "direct cash deposits in connection with McMurray's employment as a NASCAR driver and are unequivocally not connected with the alleged fraud."
The Dallas Morning-News report notes that a Feb. 16 court order froze Stanford accounts, and court officials are still trying to figure out exactly what is and what isn't connected to the investigation. McMurray has said he will likely have to file an extension on his taxes because of the lack of available cash.
Can't emphasize this enough -- there's nothing whatsoever tying McMurray to anything wrong here. It seems he's gotten unfortunately caught up in this mess. Still, if you happen to see him out this weekend at Texas, why not pick up his dinner tab?
(Thanks to Gator for the tip.)