Pro Golfer Offers To Pay Bail For Former Sponsor

Vijay SinghVijay Singh has offered to pay part of the $500,000 bond that currently holds Allen Stanford in jail. He was not allowed to do so, because he is not an U.S. Citizen. The three time Major champion is from Fiji, and Stanford's attorney's brought to matter up in court on Thursday. Stanford is accused of cheating investors out of more than $7 Billion dollars. Prosecutors disagree with the decision of Bond set for Stanford, and are currently appealing that decision. Singh, former world number one, said that his decision was based on the fact that Stanford has not yet been proven guilty said a representative of the management company that represents Vijay Singh.

Singh is in the middle of an endorsement deal with Stanford Financial, which according to reports, is worth around $8 million dollars. Even though Singh is not being paid currently, he still wears the Stanford logo. He opted out of a tournament that had previously been sponsored by Stanford two weeks ago, in Memphis, Tennessee. Dave Haggith, the spokesman for IMG, Singh's management company, said that Vijay Singh has chosen to be supportive of the financier.

The Texas billionaire joins two other top executives at Stanford, who are accused of selling $8 billion dollars in high-yield CD's fraudulently. Singh was astonished on Wednesday when he learned about the charges against Allen Stanford. He said he was surprised by all of it, and didn't have any further comments. He was wearing the Stanford logo on his golf shirt at the time. Stanford financial is the creator of Eagles for St. Jude, a charity that raises money for each eagle that is recorded on the PGA tour, and gives that money to the St. Jude, one of the world's most well known cancer research centers for children.

Tags: Allen Stanford, Dave Haggith, Vijay Singh
Posted: 27th June 2009

News Pro Golfer Offers To Pay Bail For Former Sponsor
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