If Coach-2 in the indictment is actually Rick Pitino he is looking at jail time.

[TinyManInside]

Which to me is stupid of him to actually care more about his job right now.

The bleeping FBI has coach-2 on a wire. Pitino better hope it's not him or he better flip and flip quick.

Instead he is having his lawyer fight UL for money when the guy has made over 100 million dollars between Kentucky, Boston Celtics, and Louisville.

Adidas paid 2.25 of Pitino's 7.5 million dollar salary last season.

This reads like straight up mob-style action.

Just remove the university stuff and replace it with local businesses and you've got an episode of The Sopranos. I love it.

 

[djorange1989]

I'm not sure that's true. Pitino didn't take any money, only asked that money be given to a player. That's not a federal crime as far as I know.

damn! you spoiled my morning! :0

 

[pfister1]

I'm not sure that's true. Pitino didn't take any money, only asked that money be given to a player. That's not a federal crime as far as I know.

Pitino is not charged, which is why he is Coach-2 and not defendant Richard Pitino.

I think his conduct may constitute an NCAA violation, but I don't think he committed a chargeable crime.

 

[Nicknack]

I'm unclear as to why some are hoping that Pitino goes to jail. He is obviously a cheat, among other things, but him not being able to coach again is a huge blow to him and his legacy. Now if he did commit a crime, then he should go to jail.

 

[texascpa]

I'm unclear as to why some are hoping that Pitino goes to jail. He is obviously a cheat, among other things, but him not being able to coach again is a huge blow to him and his legacy. Now if he did commit a crime, then he should go to jail.

If he cheated, he should never coach again and I wouldn't give a damn about his legacy. You could argue his legacy is only what it is because he cheated.

 

[jncuse]

If he cheated, he should never coach again and I wouldn't give a damn about his legacy. You could argue his legacy is only what it is because he cheated.

Since I agree with his comment, and I don't think he is worried about his legacy.

The way I read it was... " Let's not worry about jail time. He has already been exposed as a cheat and any legacy he had has been rightly destroyed" I also think the deterrent for others has also been created.

 

[Capt. Tuttle]

I'm unclear as to why some are hoping that Pitino goes to jail. He is obviously a cheat, among other things, but him not being able to coach again is a huge blow to him and his legacy. Now if he did commit a crime, then he should go to jail.

He can coach again. NBA.

 

[texascpa]

He can coach again. NBA.

NBA wouldn't touch him before this, they surely won't after this.

 

[djorange1989]

NBA wouldn't touch him before this, they surely won't after this.

yep, the only thing worse than another scandal for Slick Rick is his tenure with the Celtics, the stench is still around throughout the NBA.

 

[CuseFaninVT]

I'm not sure that's true. Pitino didn't take any money, only asked that money be given to a player. That's not a federal crime as far as I know.

Conspiracy? That's how they take down many of the mob guys. Not being part of the scheme directly, just directing the actions of others...

 

[texascpa]

Conspiracy? That's how they take down many of the mob guys. Not being part of the scheme directly, just directing the actions of others...

But giving players money is not a crime. So not sure how it's conspiracy.

 

[CuseFaninVT]

But giving players money is not a crime. So not sure how it's conspiracy.

One of the things I heard on the radio is that each player and coach is annually required to sign a legal document stating they have not knowingly committed an act that would violate NCAA rules.

And aren't we partially talking about bribery here?

 

[texascpa]

One of the things I heard on the radio is that each player and coach is annually required to sign a legal document stating they have not knowingly committed an act that would violate NCAA rules.

And aren't we partially talking about bribery here?

If that's true that's between the NCAA and the coach/player. That's a civil issue, not criminal.

As for the bribery, we'll see as more facts come out, but Pitino didn't ask or take any money. Paying the player is not necessarily bribery. What the assistants did is. I'm not defending Pitino, but there's a reason why he wasn't and still hasn't been arrested even though the indictments containing his involvement have been submitted to the courts and prosecutors.

 

[SUbear]

But giving players money is not a crime. So not sure how it's conspiracy.

Biggest thing here would be tax fraud issues, both for the receiver of the monies and the payer of those monies. Both might be charged with tax fraud and/or conspiracy to commit tax fraud. This investigation is not over, this is just the beginning.

 

[texascpa]

Biggest thing here would be tax fraud issues, both for the receiver of the monies and the payer of those monies. Both might be charged with tax fraud and/or conspiracy to commit tax fraud. This investigation is not over, this is just the beginning.

Sure, but that's an IRS issue, and so far haven't heard that they are getting involved. Time will tell, though.

 

[SUbear]

If that's true that's between the NCAA and the coach/player. That's a civil issue, not criminal.

As for the bribery, we'll see as more facts come out, but Pitino didn't ask or take any money. Paying the player is not necessarily bribery. What the assistants did is. I'm not defending Pitino, but there's a reason why he wasn't and still hasn't been arrested even though the indictments containing his involvement have been submitted to the courts and prosecutors.

It is not necessary for someone to receive money(cash) to be charged with bribery, it is only necessary that they receive value or what they believe gives them value.

 

[SUbear]

Sure, but that's an IRS issue, and so far haven't heard that they are getting involved. Time will tell, though.

Yes and that is why I said this is only the beginning.

 

[SUbear]

Sure, but that's an IRS issue, and so far haven't heard that they are getting involved. Time will tell, though.

Look at these initial charges as being an attempt to shake the tree to see what else falls out of the tree. They have charged the easy, in their wheelhouse charges, but do not believe for a minute that there are not more charges possible, and in fact likely.

 

[retro44]

If that's true that's between the NCAA and the coach/player. That's a civil issue, not criminal.

As for the bribery, we'll see as more facts come out, but Pitino didn't ask or take any money. Paying the player is not necessarily bribery. What the assistants did is. I'm not defending Pitino, but there's a reason why he wasn't and still hasn't been arrested even though the indictments containing his involvement have been submitted to the courts and prosecutors.

They just said it was Pitino as coach no.2 as being reported now

 

[texascpa]

Look at these initial charges as being an attempt to shake the tree to see what else falls out of the tree. They have charged the easy, in their wheelhouse charges, but do not believe for a minute that there are not more charges possible, and in fact likely.

Oh, I'm with you on all of that. I'm actually a little bored today because I was hoping more news would fall out.

 

[texascpa]

They just said it was Pitino as coach no.2 as being reported now

Right, it was reported this morning. The feds have obviously known for a while.

 

[TinyManInside]

Biggest thing here would be tax fraud issues, both for the receiver of the monies and the payer of those monies. Both might be charged with tax fraud and/or conspiracy to commit tax fraud. This investigation is not over, this is just the beginning.

It is also clear from reading the affidavit that there is some degree of money laundering going on here. It seems to be different from case to case though, and I think that's why in the list of charges only a smaller handful of the guys arrested were sited for laundering.

 

[SUbear]

But giving players money is not a crime. So not sure how it's conspiracy.

Well I believe because this was all under the table, because they are violating NCAA rules, Adidas or whomever did not report these money transfers, in amount or who received them, that in itself, I believe would merit a conspiracy charge to commit tax fraud. I would guess that no one receiving said payments would be reporting either, tax fraud and conspiracy to commit tax fraud, in my opinion.

 

[texascpa]

Well I believe because this was all under the table, because they are violating NCAA rules, Adidas or whomever did not report these money transfers, in amount or who received them, that in itself, I believe would merit a conspiracy charge to commit tax fraud. I would guess that no one receiving said payments would be reporting either, tax fraud and conspiracy to commit tax fraud, in my opinion.

Adidas doesn't have to report these other than through a 1099. Now, of course, they processed the payments under a fake company (falsified invoices). But the penalty for not reporting or reporting a 1099 in error is like $50. Violating NCAA rules is not a crime.

The Feds concern is the money that went to the coaches and financial advisers. The IRS may be interested in the tax stuff and I'm sure they'll get involved in one way or another, it's just not the focus at the moment.

 

[SUbear]

Adidas doesn't have to report these other than through a 1099. Now, of course, they processed the payments under a fake company (falsified invoices). But the penalty for not reporting or reporting a 1099 in error is like $50. Violating NCAA rules is not a crime.

The Feds concern is the money that went to the coaches and financial advisers. The IRS may be interested in the tax stuff and I'm sure they'll get involved in one way or another, it's just not the focus at the moment.

I believe you may be overlooking that these factors; falsifying records, dummy company, avoiding reporting because it violates NCAA rules, all of which elevates the potential charge to a conspiracy to commit tax fraud, not a simple error penalty. To receive a simple error civil penalty it must be an actual error, in no way was this an error it was a conspiracy.
You are correct that right now this is focused on coaches receiving monies, however any person not reporting income would potentially be subject to the identical charges. The only question is whether the gov wants to pursue charges against players or their families, which I have no idea.