NCAA Scandal

[dc_x]

This is an interesting story that CBSSports is running with.

http://eye-on-college-basketball.blogs.cbssports.com/mcc/blogs/entry/26283066/30683502

Apparently, a bunch of college coaches invested money with a guy in Houston who pulled a Madoff. Once the SEC started investingating he chose to commit suicide.

To start with a bunch of coaches apparently have lost a lot of money. But what makes the story even more interesting is that the guy also was the head of a big AAU program in Houston and he just so happened to funnel a bunch of his top players to the same coaches who invested their money with him.

Allegedly, Baylor, Texas, Gonzaga, and Arizona were all tied into this guy.

Will be interesting to see this one play out, especially if they can prove he was funneling investment money to fund the AAU program.

[paulxu]

Once the SEC started investingating he chose to commit suicide.


Don't mess with the SEC.

[MCXU]

Don't mess with the SEC.

Especially in Football.

They win the BCS every year.

It's good to see that they are expanding their mission from fielding competitive athletic teams, into enforcing financial rules and regulations.

[xudash]

Especially in Football.

They win the BCS every year.

It's good to see that they are expanding their mission from fielding competitive athletic teams, into enforcing financial rules and regulations.

They field competitive athletic teams because the only rules and regulations they enforce are financial in nature, especially those having to do with television contracts. Rules and regulations having to do with fielding football teams do not receive the same level of enforcishment.

[SlimKibbles]

Don't mess with the SEC.

SEC speed is unmatched.

Yeah I'll be interested in seeing how this whole thing plays out. Kind of shady ties between that guy and all of those coaches.

[Xavgrad08]

Here is another article where former Houston Coach Tom Penders said he didn't invest because he knew it was against the rules. Penders said Salinas “made a strong, strong implication” that it would help Houston gain access to prospects if he invested. Sounds like Scott Drew, Doc Sadler and Billy Gilispie have some explaining to do. Also interesting that former Arizona coach Lute Olson invested.

http://www.thedaily.com/page/2011/07/19/071911-sports-college-coaches-ponzi-1-2/