- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Presser tomorrow, more coaches caught in Next wave
Posted on 9/27/17 at 10:34 pm to tigeroarz1
Posted on 9/27/17 at 10:34 pm to tigeroarz1
One thing that looked a little bad for CLemson was that KJ McDaniels and Trevor Booker were both ASM clients. Those are probably the two best Clemson guys in the past decade, right? ASM is the agency implicated in this because Christian Dawkins was one of their runners.
Supa, I think the reason why the FBI was involved in any of this was because the original informant was a financial advisor to pro athletes who was running a Ponzi scheme. He negotiated with the SEC to not get criminal charges but that doesn't mean that the FBI can't interview him and get more names (which they clearly did....the AAU coaches, Dawkins, Merl Code, etc.)
Supa, I think the reason why the FBI was involved in any of this was because the original informant was a financial advisor to pro athletes who was running a Ponzi scheme. He negotiated with the SEC to not get criminal charges but that doesn't mean that the FBI can't interview him and get more names (which they clearly did....the AAU coaches, Dawkins, Merl Code, etc.)
0
Posted on 9/27/17 at 10:48 pm to VADawg
What I was reading earlier is the money was "laundered" from adidas/agents into various accounts/funds etc to hide its origins and then given out as cash payouts or no pay "loans/line of credit"
Adidas Cuts a check to a financial planner for personal services, the money is deposited into an account of the financial planner, the planner gives mom a debit card to the account or a safe deposit box key with cash in it. It is surprisingly hard to get cash from a big corporation legally without a direct paper trail
Adidas guy and financial planner converting the money to cash for player/mom's bribery is criminal conspiracy
The tax evasion comes in if the Asst coach or runner benefitted personally and didn't report it or the person closest to the player doling out the money didn't report it as personal or business income. The person receiving the cash obviously had to report it as income as well
What is next is all the single moms rolling over to dodge income tax evasion charges
Adidas Cuts a check to a financial planner for personal services, the money is deposited into an account of the financial planner, the planner gives mom a debit card to the account or a safe deposit box key with cash in it. It is surprisingly hard to get cash from a big corporation legally without a direct paper trail
Adidas guy and financial planner converting the money to cash for player/mom's bribery is criminal conspiracy
The tax evasion comes in if the Asst coach or runner benefitted personally and didn't report it or the person closest to the player doling out the money didn't report it as personal or business income. The person receiving the cash obviously had to report it as income as well
What is next is all the single moms rolling over to dodge income tax evasion charges
Posted on 9/27/17 at 10:52 pm to supatigah
I wouldn't be shocked at all if structuring charges eventually come down on some of the people involved
ETA:
I'm not doubting what you read at all but this still doesn't sound like money laundering. They aren't trying to take dirty money and "make it look clean". Adidas has the cash and didn't acquire it illegally.
I'm nitpicking at this point though. There are plenty enough financial crimes to really make these people have miserable lives from now on.
ETA:
quote:
Adidas Cuts a check to a financial planner for personal services, the money is deposited into an account of the financial planner, the planner gives mom a debit card to the account or a safe deposit box key with cash in it. It is surprisingly hard to get cash from a big corporation legally without a direct paper trail
I'm not doubting what you read at all but this still doesn't sound like money laundering. They aren't trying to take dirty money and "make it look clean". Adidas has the cash and didn't acquire it illegally.
I'm nitpicking at this point though. There are plenty enough financial crimes to really make these people have miserable lives from now on.
This post was edited on 9/27/17 at 10:55 pm
Posted on 9/27/17 at 10:57 pm to VADawg
This is a career making case, no stopping now
Interesting is what would have happened if the FBI brought in the NCAA? Would it have the teeth it has now?
Interesting is what would have happened if the FBI brought in the NCAA? Would it have the teeth it has now?
Posted on 9/27/17 at 11:04 pm to supatigah
quote:
This is a career making case, no stopping now
They had that with tax evasion alone, not to mention bribery. When they finish with this, they could have a MASSIVE tax evasion case. Anything exceeding $14,000 has to be reported to the IRS. I have a feeling there were several payments that went well over this threshold.
I'd bet my car that they could add structuring to this too. For those who have never heard of structuring, there is a rule in financial institutions that any transaction involving more than $10,000 in cash has to be reported in a currency transation report. If someone comes to the bank with $9500 in cash one day and $9000 the next day, this is considered an attempt to structure transactions to avoid a CTR. This is a federal crime and I'm sure it has happened in these cases.
Posted on 9/27/17 at 11:05 pm to VADawg
Agreed
I think the money laundering aspect is not legit but plays into the criminal conspiracy charges
Clearly adidas firing their guy is an indicator of their awareness of their culpability. What kind of deal does Adidas cut to stop the bleeding on their end? It can't be one "rogue" guy, he has a budget that was approved by someone higher up. This is easily in the millions on their end
I think the money laundering aspect is not legit but plays into the criminal conspiracy charges
Clearly adidas firing their guy is an indicator of their awareness of their culpability. What kind of deal does Adidas cut to stop the bleeding on their end? It can't be one "rogue" guy, he has a budget that was approved by someone higher up. This is easily in the millions on their end
Posted on 9/27/17 at 11:15 pm to supatigah
quote:
Clearly adidas firing their guy is an indicator of their awareness of their culpability. What kind of deal does Adidas cut to stop the bleeding on their end? It can't be one "rogue" guy, he has a budget that was approved by someone higher up. This is easily in the millions on their end
Oh I have no doubt that this goes all the way up to the CEO and Board of Directors. There's no way a global marketing exec has the green light to spend company money like this without approval
Posted on 9/27/17 at 11:17 pm to VADawg
Yeah, and those are the people who the FBI want. The global head of marketing, the global head of basketball, maybe the CEO and the board.
It's odd to see how big name basketball coaches are just pawns in this game.
It's odd to see how big name basketball coaches are just pawns in this game.
Posted on 9/27/17 at 11:30 pm to Keys Open Doors
quote:
Yeah, and those are the people who the FBI want. The global head of marketing, the global head of basketball, maybe the CEO and the board.
It's odd to see how big name basketball coaches are just pawns in this game.
At the very least, the CFO and CRO would have had to know what was going on.
I don't think coaches were just pawns. Chuck Person received $60,000 from a financial advisor in Pittsburgh. At the very, very least, he's guilty of tax evasion as I'm quite confident this was not reported to the IRS.
Posted on 9/27/17 at 11:37 pm to VADawg
Right, but Person probably got $60K, paid half of it to athletes under the table and kept the rest for himself.
The FBI isn't normally going after people for evading $10-12 thousand dollars of taxes on $30K of income. Honestly, that generally ends up with the IRS making you pay an extra 3K in interest payments and the case is closed.
Here is where I think the case will generally end before completely changing the basketball landscape. I highly doubt Bruce Pearl gave a specific order to Chuck Person to get in touch with Adidas execs, get the money, give half to the recruits, etc. So Chuck Person (or Book, Bland, anyone else) doesn't have all that much interesting to say to the FBI. They will say a little, get a few months in prison or maybe just probation and a fine. The NCAA will show cause them through 2025, ending their careers, and that's that.
The only way this will really blow up is if Merl Code or any of the bigger Adidas guys (or any of the Nike guys) reveal dozens of names of coaches to the FBI. And I realize that may happen.
The FBI isn't normally going after people for evading $10-12 thousand dollars of taxes on $30K of income. Honestly, that generally ends up with the IRS making you pay an extra 3K in interest payments and the case is closed.
Here is where I think the case will generally end before completely changing the basketball landscape. I highly doubt Bruce Pearl gave a specific order to Chuck Person to get in touch with Adidas execs, get the money, give half to the recruits, etc. So Chuck Person (or Book, Bland, anyone else) doesn't have all that much interesting to say to the FBI. They will say a little, get a few months in prison or maybe just probation and a fine. The NCAA will show cause them through 2025, ending their careers, and that's that.
The only way this will really blow up is if Merl Code or any of the bigger Adidas guys (or any of the Nike guys) reveal dozens of names of coaches to the FBI. And I realize that may happen.
Posted on 9/27/17 at 11:47 pm to Pedro
quote:
I'm low key hoping johnny Jones or someone no longer invlolved with the program was involved in this so maybe just maybe aliva can get taken down in the cross fire
Posted on 9/28/17 at 4:56 am to WestCoastAg
I fully expect A&M to be part of this at some point
Posted on 9/28/17 at 5:46 am to Weagle25
quote:
I'm glad we were in the first wave. We'll be forgotten about by tomorrow
I have always heard if you are going to lose, lose first.
Posted on 9/28/17 at 5:49 am to VADawg
quote:
If the source of funds is legitimate, then I don't see how it could be called money laundering.
That depends on what exactly Persons did with the 60K once he got it. If he ran it through some kind of shell company or legitimate company to wash it, then you have laundering.
Posted on 9/28/17 at 6:00 am to SeeeeK
Sounds like the FBI is after the agency in Atlanta and New York. They are looking for assistant or head coaches that took money from them for a certain prize recruits to steer towards the agency. No wonder the Kentucky staff has been gleefully happy in the facility and not worrying. Louisville staff was just dumb being on tape (not target) while the FBI was after an Addidas guy negotiating a payment of a recruit who the agency wanted steered too.
Posted on 9/28/17 at 7:04 am to WildcatMike
Gosh this is like waiting for a Christmas present. The anticipation is killing me
Posted on 9/28/17 at 7:04 am to WildcatMike
The Nike folks will be the next shoe to drop. Calipari will more than likely get implicated. You don't churn out 4-6 first round draft picks on accident.
I like Calipari, but I don't buy the UK program being clean. I mean how the hell did Memphis land a player like Derrek Rose?
I like Calipari, but I don't buy the UK program being clean. I mean how the hell did Memphis land a player like Derrek Rose?
Posted on 9/28/17 at 7:08 am to SeeeeK
quote:
Sounds like Underwood will be one of next wave of coaches busted. Was a rumor out of chicago, from reputable Chicago Sports guy.
F***. Another former South Carolina assistant.
But Underwood would make sense considering he was Oklahoma State head coach and Lamont Evans worked under him.
This post was edited on 9/28/17 at 7:09 am
Posted on 9/28/17 at 7:23 am to chew4219
Keep hoping it is Cal....if Cal is going down, then K and Self will go down as well. The coaches that should be sweating is a Martin while he was at Cal. Had several kids leaning heavily to Duke, Kansas, or Kentucky and at last minute committed to Cal. And you're naive Johnny Jones and Wade are clean.
This post was edited on 9/28/17 at 7:24 am
Posted on 9/28/17 at 7:28 am to WildcatMike
God damn you are such a douche bag
Page 4 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News