McCarron, Pincay awarded $8M

Hall of Fame jockeys Chris McCarron and Laffit Pincay Jr. this week were awarded a total of nearly $8 million in actual and punitive damages in a civil case against their former business advisers, according to the jockeys' attorney, Neil Papiano.

McCarron and Pincay in the early 1990's sued the brothers Robert and Vincent Andrews of Andrews Management Corporation, alleging their money was invested improperly and that they were charged excessive commissions. Pincay invested nearly $1.7 million with the Andrews brothers over a 19-year period ending in 1987. McCarron invested more than $750,000 over nine years, ending in 1988.

According to Papiano, the jockeys originally were awarded "between $5.5 and $6 million," but the amount increased over the years after various appeals by the Andrews brothers.

"Another judge in effect increased the award, plus there was interest paid on the money." Papiano said.