In 2006 Barry Zito, starting pitcher for the World Series Champion San Francisco Giants, signed a 126 million dollar free agent contract. Zito has been very generous with his fortune, he acts as a local philanthropist and funds several non-profit charities. He very recently dropped some of his cash in which he and several other celebrities were victimized in an investment scam.

Zito joined the list of notables, including Madonna and Dr. Oz, who invested in a fitness company called dotFIT. Zito’s friend, Michael Clark, started the company and enticed Zito to invest three million dollars to help develop new technology. Zito was told that he would receive a 15 percent stake in the company. Instead, Clark used the funds to pay off existing company debts. Just two short weeks after Zito turned over his cash, Clark sold doFIT to another company, ShareCare, which was co-founded by Dr. Oz and WebMD founder Jeffrey Arnold.

Sources:

http://en.wikipedia.org/wiki/Barry_Zito
http://www.yardbarker.com/mlb/articles/report_barry_zito_scammed_out_of_3_million_in_fitness_software_scheme/1317607