It would be nice if Marshall signed good enough players for us to be a little worried.
NHR: NCAA basketball and the FBI
- Thread starter herdfan429
- Start date
It would be nice if Marshall signed good enough players for us to be a little worried.
The end result of this investigation and all the stones its going to overturn is that nobody competing in the top third of college basketball is running a completely clean program. Dan Dakitch said on ESPN radio this afternoon that his guess would be somewhere around 100 programs have a coach on staff working as a go-between for this stuff. This is just the cost of admission if a school wants to compete.
Part of me wonders if the P5 push for paying NCAA athletes doesn't come from ADs and school presidents knowing this stuff is going on, and hoping to get player payment above the board to limit costs and stave off potential scandal and penalty. No way is this just happening in basketball.
Part of me wonders if the P5 push for paying NCAA athletes doesn't come from ADs and school presidents knowing this stuff is going on, and hoping to get player payment above the board to limit costs and stave off potential scandal and penalty. No way is this just happening in basketball.
Reading this story makes me kind of feel bad for these players. These people they trust, including coaches, are clearly just vultures making money off of them.
After self educating on personal finance, I realized how shady many of these "financial advisers" are trying to get you to buy all this whole life insurance or crap mutual funds with huge front loads and high expense ratios...but these guys would look like saints compared to the vultures piggy backing on these kids.
If I were part of the NBA/NFL/MLB players union, I'd want to start looking into getting a list of advisers that meet some sort of standard where they have to have a fiduciary duty to these players and get a *certified* tag or something where an independent NBA/MLB/NFL audits everything each year to make sure all is on the up and up. These guys have no clue who to trust, not even their coaches.
I feel bad for the players to but the parents are just as responsible as the agents. Some of these parents only want/demand money. They can't wait for little Johnny to play one year and then collect the check. They are basically selling their kids abilities before its time. Sure there are some cases where the parents are approached but there are plenty that know what can happen and specifically "sell" their kids for a buck...or a bunch of bucks. haha
There are a lot of people to blame here, you're right.
But with the amount of money they make they do need some help in managing it. If someone wants to pay me $1,000 per client per year to put 90% of it in VTSAX and 10% in VBTLX then I'd gladly "advise" them and do better than most I'd bet.
2018 NCAA First Round Bracket out already. Has Louisville vs FBI.
Raoul cbs sports is reporting that pitino is the “coach 2” named in the complaint. Now if that’s true I don’t know why he wasn’t rounded up with the others but there’s no way he had no clue what was going on.
https://www.cbsnews.com/news/rick-pitino-louisville-basketball-coach-bribery-scandal-adidas-ncaa/
https://www.cbsnews.com/news/rick-pitino-louisville-basketball-coach-bribery-scandal-adidas-ncaa/
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A little birdie told me that yesterday but I didn't want to post it until it was in the media. Sure enough, it's front page here. I am not surprised at all.
As I understand, paying a kid to commit is not a crime. The ones charged were steering players to agents and such so there was a federal charge.
Unless something has changed...both Pitino & their AD are on "administrative leave" effective Sept. 26. Could this be "smoke before the FIRE?
HerdZilla22 in Charlotte
I don't know about that. The SDNY (Manhattan) is the Big Leagues for white collar crime fighter lawyers and FBI/SEC agents. Best we have.
Remember they got Capone on tax evasion.
IF (biggest word there is) Pitino (or anybody else) knew or activly participated, you could easily make lots of crimes out of it.
Oh, the kid or family is on the hook for tax evasion, for sure. But I don't think you can get a crime out of simply providing extra benefits, unless the coach knew Adidas was cooking the books and then they have a problem.
Bribery is against the law so why wouldn't payments made to a kid/family to get said kid to commit to a certain school be considered as such?
Because apparently bribing a kid to commit to a program in and of itself is not against the law. Given the vast number of NCAA cases for extra benefits I am sure sometime before now someone would have been charged for that.
Agents and financial advisors are areas of commerce that are subject to federal law and regulation. That's very different than a private organization (the NCAA).
I would guess because no money changed
It is the way their contracts are written. Pitino is supposed to be given 10 day notice of being fired...hence administrative leave.
I do think there is a lot of smoke and fire coming for many programs and coaches. The FBI just didn't let this little bit of information out to be the end of an investigation. As they said...they have the play book...I am sure they did this much just to get some scared and start talking. It is going to get interesting.
If you give somebody money w/o telling the government via a 1099 or a W2, it is conspiracy to assist another in evading taxes, a felony. If you give somebody more than $10K cash w/o telling telling the government via a 8300, it is money laundering, a felony. If you "cause to be transmitted" or "place in the US mail" a false statement with the intension to decieve another, it is wire or mail fraud, felonies. If the kid (and, yes, they can) got a student loan based on a false FAFSA, and as a college employee knew it was false, it is fraud, a felony. If you have insider knowledge that a publicly traded company is making false statements on its financial reports, it is securities fraud, a felony.
Like I said, the SDNY is the Big Leagues. They will have no trouble making sure all of these people go to the slam.
Like I said, the SDNY is the Big Leagues. They will have no trouble making sure all of these people go to the slam.
We recruit good players for our system, but we don't go after the top recruits that would fit the system as we can't compete in recruiting with the blue bloods of college basketball. D'Antoni is doing a good job of building the program with developmental recruits and that is a good thing to be honest.
I don't know how it wouldn't be a crime as it is technically bribery. They should send them all to jail, maybe even the recruits too if they don't pay back taxes on the payments.
Back taxes! Well pd I guess we could get an opinion from both the current President and Governor of WV for comment! LOL
I read somewhere that somehow it isn't covered under the law. I know it makes no sense. And anyway, as long as the Attorney General is from Alabama it probably isn't going to be prosecuted, The Tide wouldn't even be able to field a 7 on 7 team.
