Jim Cramer, host of CNBC's Mad Money, has allegedly been ensnared in a scandal involving Lenny Dykstra, former Mets leadoff hitter and one-time Cramer protegee, The New York Post reported.

A new book by Randall Lane called "The Zeroes: My Misadventures in the Decade Wall Street Went Insane" alleges that Dykstra took payment from vending company AVT, Inc. to promote the company's shares on a newsletter published on Cramer's website The Street.

AVT founder Shannon Illingworth denies making any illegal arrangement with Dykstra. A spokesman for Cramer told the post that Cramer had not read the book but that "the author clearly concludes that I knew nothing about the issue."

Dykstra filed for bankruptcy in July 2009.

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