|Claim to Fame: Three-time MLB all star and World Series champ
Investing Resume: Launched a high-end jet charter and luxury magazine targeting professional athletes known as Player’s Club. From 2005 to 2009, was an investing columnist for TheStreet.com (see archive here) and endorsed by Mad Money star Jim Cramer.
The Payoff: Lenny Dykstra is spending what little money he has left on legal bills. Dykstra filed for Chapter 11 in 2009 and even auctioned off his World Series ring. Apparently boondoggles such as the doomed Player’s Club or the purchase of a $17.5 million home from Wayne Gretzky had taken their toll. But strangely enough, “Nails” is lucky if it turns out that his worst problem is that he’s a bonehead investor gone broke. In June 2010, a bankruptcy trustee charged that Dykstra had lied under oath, improperly hid assets, and repeatedly acted in a “fraudulent and deceitful manner.” And though never criminally charged, Randall Lane’s skewering Wall Street tell-all book The Zeroes alleges that Dykstra was paid to pump stocks on TheStreet.com and make Cramer look good.
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