Dykstra Gets 3 Years for Auto Scam

It’s another black mark for the New York Mets.

Former outfielding great Lenny Dykstra — once praised by Mad Money’s Jim Cramer for his stock-picking ability — was sentenced Monday to three years in prison for running an automobile scam, according to the Associated Press.

Dykstra pleaded no contest to grand theft auto and providing a false financial statement, according to the AP — charges stemming from Dykstra’s use of phony information to lease high-end vehicles.

The legal issues are far from Dykstra’s first. He currently faces federal bankruptcy charges as well as indecent exposure charges. In 2009, ESPN reported on Dykstra’s financial woes, as he was the subject of numerous lawsuits by publishers, print companies, a law firm, pilots and even a Mets fan.

Dykstra, through his friendship with Cramer, was able to secure a regular investment column on TheStreet.com called “Nails on the Numbers.” That column was pulled two days after the ESPN report. Later, Forbes

Editor Randall Lane claimed in the book The Zeroes: My Misadventures in the Decade Wall Street Went Insane that Dykstra was involved in a “pay-to-plug” scheme in which he received stock of vendor company AVT in return for endorsing it in his writings. AVT countered by filing a defamation suit against Lane.

Lane also has a financial beef with Dykstra — Lane was owed $200,000 resulting from a lawsuit, but Dykstra defaulted on the payment when he filed for bankruptcy.


Article printed from InvestorPlace Media, https://investorplace.com/2012/03/dykstra-gets-3-years-for-auto-scam/.

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