Thanks to reader Tuco for Peter Lauria and Kaja Whitehouse's New York Post story claiming that IMG directed its clients to Stanford Financial. IMG is vehemently denying...
According to three sources with knowledge of the situation, IMG and Stanford have a quid-pro-quo agreement under which Stanford Financial pays IMG a low- to mid-seven-figure consulting fee in exchange for IMG advising its clients - which include golfers Tiger Woods, Arnold Palmer, David Toms, Sergio Garcia and others - to have their money managed by Stanford.
The backroom bargaining has exposed IMG to charges of double-dealing, and is raising questions about where the firm's allegiances lay: with Stanford Financial or its athlete clients.
"It's certainly a conflict of interest," said one source. "IMG is trading on its athletes' names to make money for themselves and then turning around and telling them to invest money with Stanford."