FBI arrests Assistant Basketball Coaches in Corruption Scheme

[Newhouser]

Perhaps this is a situation where everyone is guilty to a degree.

May also be a case of where not having deep pockets worked in our favor. Not saying we were in this type of arms race.

 

[texascpa]

Seth Greenberg on ESPNU Sirius. This should be interesting.

 

[Cheriehoop]

I would love to know how this entire probe started? When people complain about other suspected dirty schools not being named, my suspicion is that this started based on a complaint related to the shoe companies - maybe the IRS noticed some missing money and started snooping around - I mean, Adidas isn't gonna have an account labeled "Money to pay off high school recruits with". That money had to be coming from somewhere not obviously traced, so there is likely a money laundering aspect here.

My guess is that the feds started following the money, and the named schools so far are just the ones that came up in the immediate money trail. I doubt the feds specifically targeted any specific university to start. Once they found there was widespread corruption, they'll start looking further. Hence, tip line, etc...

Wonder if the shoe company's Board of Directors knew , what could be the company repercussions including stockholders rights in this mess? I doubt they disclosed the info to stockholders on their financials.

 

[nyucuse]

Pat Forde calling for Louisville death penalty if findings are true:

Louisville basketball should be given death sentence if bombshell NCAA allegations prove true

They never should have been invited to the ACC to begin with. League sold it's soul to the devil. Rouge commuter school with no real academics to speak of. Can't stand UConn, but man long term that probably would have been a better option for the league.

 

[nyucuse]

here's the thing... there's gonna be A LOT of guilt by association being passed around. People are going to look at the kids who are known to have been paid and look at their final lists... if you're looking for money, not much chance you're going to put a team in your final 5 who isn't willing to pay at least something...

Yep. All five of those programs (or in the case of GT, coach) have some filth around them..

 

[Frozen]

Rouge commuter school with no real academics to speak of

Like, a cosmetology school?

 

[SoBeCuse]

Think of all the transactions everywhere that can't be or haven't been proven yet. Probably staggering numbers.

 

[MiniCuse]

They never should have been invited to the ACC to begin with. League sold it's soul to the devil. Rouge commuter school with no real academics to speak of. Can't stand UConn, but man long term that probably would have been a better option for the league.

I see what you did there.

 

[cuseinseattle]

Seth Greenberg on ESPNU Sirius. This should be interesting.

I agree. Please share after he is done.

 

[Waltdods]

I would love to know how this entire probe started? When people complain about other suspected dirty schools not being named, my suspicion is that this started based on a complaint related to the shoe companies - maybe the IRS noticed some missing money and started snooping around - I mean, Adidas isn't gonna have an account labeled "Money to pay off high school recruits with". That money had to be coming from somewhere not obviously traced, so there is likely a money laundering aspect here.

My guess is that the feds started following the money, and the named schools so far are just the ones that came up in the immediate money trail. I doubt the feds specifically targeted any specific university to start. Once they found there was widespread corruption, they'll start looking further. Hence, tip line, etc...

I was a DOJ attorney for a few years. (Miles and miles removed from this case.) One thing that I think would surprise most people is how open Justice is to just talking to people. DOJ has a lot of resources, and unlike local law enforcement, doesn't necessarily have a constant line of run-of-the-mill crimes filling up the docket. So, DOJ has the luxury of entertaining things, even if a lot don't pan out. It wouldn't surprise me if this started with someone tipping off an attorney or FBI agent in SDNY to this specific conduct. All you really need is one person to think there's something to it.

It also wouldn't be surprising if this stemmed from a different investigation, though I would kind of be surprised if it was an IRS investigation. In part, this just doesn't seem like enough money in the scheme of things. Addidas did $20 billion in revenue last year. A few million dollars won't be that difficult to hide on a financial statement.

 

[tep624]

Some food for thought:

Statute of limitations on federal wire fraud is 5 years

Statute of limitations on federal money laundering is 5 years

Statute of limitations on tax evasion as a criminal offense is 3 years, however the IRS can chase you in civil court for as far back as it likes.

So just to put some timers on this thing.

 

[Cusefan0307]

I was a DOJ attorney for a few years. (Miles and miles removed from this case.) One thing that I think would surprise most people is how open Justice is to just talking to people. DOJ has a lot of resources, and unlike local law enforcement, doesn't necessarily have a constant line of run-of-the-mill crimes filling up the docket. So, DOJ has the luxury of entertaining things, even if a lot don't pan out. It wouldn't surprise me if this started with someone tipping off an attorney or FBI agent in SDNY to this specific conduct. All you really need is one person to think there's something to it.

It also wouldn't be surprising if this stemmed from a different investigation, though I would kind of be surprised if it was an IRS investigation. In part, this just doesn't seem like enough money in the scheme of things. Addidas did $20 billion in revenue last year. A few million dollars won't be that difficult to hide on a financial statement.

It was a different investigation related to some kind of money laundering/security fraud at an SEC school where a financial advisor blew in a certain assistant and that’s how it escalated.

 

[AirForceOrange]

I think the jurisdiction comes from interstate fraud and wire fraud. Nothing to do with financial aid.

Actually in the press conference the FBI did mention something about that...

 

[texascpa]

Greenberg doesn't believe Pitino survives.

 

[SoBeCuse]

Seth Greenberg on ESPNU Sirius. This should be interesting.

Please recap! Not in the car now. Seth has been very forthright, vocal, and anti-Pitino on the air with Sirius.

 

[texascpa]

Greenberg says Bowen won't play and agrees that many players will be ruled ineligible.

Wouldn't go on record about what happens with Louisville program, but expects something to happen.

 

[Newhouser]

Interested to see what comes from this...

and if it extends to football where the real shady behavior is taking place.

 

[iommi]

Greenberg was kind of vague.

 

[texascpa]

Well, that's it. Not as much as I expected.

He did say he thinks the NBA should go to the European Club model which will remove players that want to play for pay out of college. Stated "no one forces you to go to college to play basketball."

 

[SUintheVille]

Rouge commuter school with no real academics to speak of.

Wrong.

 

[nyucuse]

Wrong.

Ok, if you insist. What is UL's national ranking, and how many spots below ANY other ACC school?

 

[oli44]

Maybe the most shocking thing to me is it took this long for this stuff to get out. A lot of people have kept a lot of secrets for a long time.

 

[CraigForth]

Greenberg was kind of vague.

These guys are practically accessories, he was a coach - he knows what the deal is. Jeff Goodman hints at it all the time too. These media guys will all line up beating their chests over this when they didn't say a word all the while this was happening and they knew about it.

To be fair, without proof I guess it would be hard to get too far out there

 

[OrangeXtreme]

 

[SoBeCuse]

These guys are practically accessories, he was a coach - he knows what the deal is. Jeff Goodman hints at it all the time too. These media guys will all line up beating their chests over this when they didn't say a word all the while this was happening and they knew about it.

To be fair, without proof I guess it would be hard to get too far out there

Dakich is the guy to get on the air. He can't stand Pitino, Louisville, and the corruption everywhere. Packer will get him on. They are tight. Seth has been pretty vocal about this stuff too in the past on Sirius which is a little surprising to me that he was apparently pretty vague. A Dakich interview will be gold, though!