Just watched this on cnbc college basketball coaches involved in major fraud case. Serveral coaches and company people was arrested over major sports apparel companies. Will updated. Good opportunity too short sports apparel companies stocks and fade some college basketball teams this year.
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Hopefully the all lose their jobsComment -
It was four coaches from auburn and oklahoma state were arrested.Comment -
If they really switch the transfer rule , this yes it would make recruiting even dirtier than everComment -
It'll be interesting to see how this develops.
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Looks like non story
Just some crooked assistantsComment -
I wouldn't wish death to them so fast
you're favorite college football program is most likely doing something like this as well.
I mean c'mon That kid for Houston Ed oliver had offers from Bama and LSu and all the other Texas schools and Oklahoma
and he chose Houston c'mon.Comment -
Louisville is going to get hammered. They were already on probation.
This investigation has them on a wire tap using Adidas to pay $100,000 to Brian Bowen's family. Louisville Asst coach was in on it.
They are done.
Arizona and USC also caught making payments to recruits.Comment -
How can they charge them with fraud? It is not against the law to pay a player to go to college to play sports. I guess the government is trying to perserve the sanctity of college athletics. What a joke.
They will let banks loot millions and but charge basketball coaches.Comment -
Why is this the jurisdiction of the US Justice Department?
I really don't understand what this gas to do with the day to day affairs of our national legal system.Comment -
People calling for the death penalty for Louisville. Some serious shit going down.Comment -
Because the Universities in question receive Federal Money. The players are defrauding the Universities because they received scholarship money but were ineligible to receive the money because they stopped being amateurs the moment they or their families accepted gifts to attend the school.
Plus you clearly have tax evasion going on here. Nobody is reporting the $$$$ that was being used as bribes. Cash only they think it's untraceable.Comment -
Tax evasion maybe. The players did not receive a dime from the universities. They got a free ride at basically no cost and at huge profit to the institution and it administrators. That is why they will not be getting charged.
This is nothing more than a breech of ethics and not an FBI issue.Comment -
Dude if your a professional trader you must not be to bright or make money. Adidas stock price has gone from $192 to $188. Had you shorted you would have made money. Again let me quote you " you wont see any movement over such small scandal." The scandal involved two Adidas representatives giving money to students. Dude im telling you if the NFL does not rap this whole thing with the national anthem and get back to playing and if the players just decide to walk out expect more billions to be lost including apparel companies and the companies that advertise on tv and other endorsements deals.Comment -
192-188 nothing
Lol
Short you need a ton of money for that tradeComment -
As far as Adidas is cocerned what ever floats your boat. It just proves that if you get a hiphop star like kanye west to design some shoes slap his name on it and make a deal with Adidas people will buy just about anything. The yezzy shoes are really weak made material shoes really looks like something you would get from family dollar. Even Nike followed suit with making similar style shoes. The educated people in the know buy shoes that are made from better material.Comment -
The players all receive tuition, food, room and board from the University. Those benefits amount to > 45,000 a year. Once a player accepts money from outside sources, he loses his amateur status and is not eligible to receive the benefits that his scholarship to the school bestows. The assts are being charged with fraud because they had 1st hand knowledge that the players violated their amateur status, and were no longer eligible to receive scholarship benefits, and yet never alerted the school (govt).
Defrauding the govt by accepting benefits that you are not eligible for (such as a scholarship) is prosecuted often. Most fraud cases are Medicare Fraud cases, where a nursing home will bill Medicare for services or supplies that they don't actually ever do/use on a patient.Comment -
An NCAA rule is not a law. A player is free to receive money. He will just not be allowed to play. They can change that rule.
If you have a scholarship of any kind, you can still receive money from a person for any reason.
An athletic scholarship is not government funded. Anyone with a govt scholarship is still free to receive income.
But apparently the FBI is going to consider NCAA rules as law.Comment -
Pitino really should have been fired along time ago but how he keeps skating on by i dont know. Maybe he lied to the f.b.i. its kind of strange that all of the coaches that were arrested were all assistants.Comment -
1000 percent the indictment is real and will stand. Family member was a us asst to legal.compliance....the indictments are researched and 9o percent plus are spot on.Comment -
Yes, Feds win 90% of their cases. This case is a lock given all the wire taps. And it's really not that complicated.
Adidas, Nike, Under Armour all pay alot of money to D1 schools in order to license their apparel. It's obviously in their best interest to have the teams that they have a contract with have really good teams, and thus sell more merchandise. It also doesn't hurt to start a personal relationship with an amateur player before they become pros in hopes that the amateur will officially endorse their product after they become a pro.
So a team like Louisville, who is an Adidas school, calls up Adidas and says: "I need Brian Bowen on my team. Pay him whatever it takes so that he'll enroll at Louisville. We will both benefit. My team will be good. And since the team is good, you will sell more of our merchandise. And if Bowen is really good, you already have an in with him before he turns pro in hopes that he'll endorse your product after he turns pro".
Basically, the kids that are getting paid in college are essentially getting endorsement fees from the shoe companies to go to the school that the shoe company has a contract with. The money is coming from the shoe company because their interest is in selling apparel, and hoping to land the player as an endorser when they turn pro.
The other side of this investigation is simply financial advisors bribing assistant coaches to funnel kids their way when they turn pro. That probably happens all the time.Comment -
calipari cant coach a lick but he can move money like nobody elseComment -
Many sources reporting that Pitino will be fired today.Comment -
Some still don't realize how big this is going to be.
Pitino will be gone soon, today probably. Jurich too. Larranaga will be gone. Bruce Pearl is done. Plenty of others. The paper trail they left is hilarious. Kentucky does it right. No need for apparel/shoe companies, as the boosters and WWW take care of it. Oh yeah, good luck Zona, Book, and ChalkyDog.
AAU corrupted this shit. Thanks Sonny.Comment -
The fbi indictment is a slam dunk...the mistakes are non existantComment -
I bet little changes. There will always be some form of booster with the ability get to the players, especially on the local level. These players get paid, just make it official already.
Sheesh.
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That Pitino is one shady dude.Comment -
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