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Tampa Bay Rays slugger Carlos Pena has separate account from frozen one with Stanford Financial

PORT CHARLOTTE — At least Rays first baseman Carlos Peña can pay his bills.

Peña said Sunday that the bulk of his assets have been frozen as a result of the Stanford Financial Group investigation but, unlike some of the other major-leaguers involved, he has a separate account for his everyday living expenses.

"It is an inconvenience, no doubt, but thankfully with the system I have set up I'll be fine," Peña said. "I'm confident that in the near future, hopefully the next few days, they'll unfreeze everything and all goes back to normal."

The Yankees' Johnny Damon and Xavier Nady are among players, all clients of agent Scott Boras, who said they have no access to their funds. Peña said one of his bank cards was denied.

Peña, who has a three-year, $24.125 million contract, said he didn't invest directly with the Stanford companies and they have no access to funds but serve as managers for his long-term investments, and that the Bank of New York Mellon serves as a custodial bank. Boras has said the players are in no danger of losing their money.

Peña said the players are "victims" and he understands the freezing of their assets was the proper action. "I'm confident the right things are being done," Peña said.

"If anything, it's for our protection … Not that if it wasn't frozen he (Robert Allen Stanford, the financier reportedly at the center of the alleged $8 billion fraud) could access something, but I don't want to take any chances, so in a way I'm glad they're frozen until this gets resolved."

Marc Topkin can be reached at topkin@sptimes.com.

Tampa Bay Rays slugger Carlos Pena has separate account from frozen one with Stanford Financial 02/22/09 [Last modified: Monday, February 23, 2009 7:56am]
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