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words 'corruption' and 'fraud' came to college basketball | Forum

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smithlucky
smithlucky Sep 28
The FBI announced Tuesday that 10 people, including four Men's Valtteri Filppula Premier White Reebok Jersey: NHL Tampa Bay Lightning #51 Away college basketball assistant coaches, were arrested as part of a two-year investigation into bribes and other corruption in the sport. Assistant coaches from Arizona, Auburn, Louisville, Miami, Oklahoma State and USC were implicated in the investigation, and on Wednesday, Louisville announced that athletic director Tom Jurich and longtime basketball coach Rick Pitino have been placed on administrative leave. Joon H. Kim, acting U.S. Attorney for the Southern District of New York, told http://www.officiallightningproshop.com/Valtteri_Filppula_Jerseyreporters that the investigation is ongoing. There might be additional arrests, and more schools might be involved. Court records and sealed complaints released by the U.S. Attorney's office reveal an elaborate, clandestine FBI investigation that has involved wiretaps, surveillance video, undercover agents and cooperating witnesses. Here is a look at some of the findings: On May 6, 2016, Louis Martin "Marty" Blazer Rondae Hollis-Jefferson Authentic Jersey III, a Pittsburgh-based financial adviser, was charged by the Securities and Exchange Commission with wire fraud and accused of siphoning $2.35 million from the accounts of several professional athletes in order to invest in movie projects and make Ponzi-like payments. According to the SEC's complaint, when its examiners uncovered the unauthorized withdrawals and asked Blazer to explain them, he lied and produced falsified documents in an attempt to hide his misconduct. The Securities and Exchange Commission alleged that Blazer, who founded Blazer Capital Management as a concierge firm targeting pro athletes and other high-worth individuals as clients, took the money from five clients without their authorization from October 2010 to January 2013 to invest in two movie projects. The commission alleged that Blazer had personal financial interest in http://www.authenticnetstore.com/Rondae_Hollisjefferson_Jerseythe development of the films "Mafia the Movie" and "Sibling." The commission's complaint said Blazer pitched the movie project to an athlete as an investment opportunity, but that client "expressly refused to make the investment." Blazer allegedly took $550,000 from the client's account anyway and invested in the film projects. When the client later learned about Blazer's actions and demanded repayment, Blazer took money out of a different athlete's account to make repayment in "Ponzi-like fashion." On Aug. 4 of this year, the Securities and Exchange Commission ordered Blazer to make restitution of $1.8 million and to pay a civil penalty of $150,000. The commission had barred him from the industry in May 2016. As part of a plea agreement with the U.S. Attorney's office, he agreed to plead guilty to securities fraud, aggravated identity theft, false statements and documents, and two counts of wire fraud, according to a Sept. 19 cooperation agreement. It wasn't the first time Blazer was investigated by financial regulators. According to the Pittsburgh Post-Gazette, an unidentified NFL player filed a complaint against Blazer in March 2011 with the Financial Industry Regulatory Authority (FINRA), an industry-funded group that regulates Authentic Derek Newton Youth Jersey financial advisers and the firms where they work. The football player alleged that he lost $4 million because Blazer misappropriated or mismanaged the player's accounts from 2001 to 2009. Blazer told FINRA investigators that the player had recklessly withdrawn money from his accounts, forcing Blazer's firm to sell other assets in order to generate cash. An arbitrator awarded the football player $850,000 in May 2012. In 2015, Blazer was also linked to an investigation of improper cash payments to University of North Carolina football players. A grand jury indicted former Tar Heels player Christopher Hawkins for violating the state's sports agent law by giving money to a UNC player and illegally contacting another about signing a contract. During the investigation, former UNC linebacker Robert Quinn told state investigators that Hawkins gave Quinn money to steer him to Blazer and agent Peter Schaffer, according to court documents. Kendric Burney, the other former UNC player, told investigators that Hawkins arranged and attended Burney's meetings with Blazer and Schaffer. U.S. Department of Justice documents released Tuesday indicate Blazer also was accused of a 14-year-long wire fraud scheme in which http://www.houstontexansjerseystore.com/Derek_Newton_Jersey_Cheaphe made "payments and loans to NCAA athletes in order to induce those student-athletes to retain the defendant as a financial advisor and/or business manager." Blazer also agreed to one other condition as part of his plea agreement: He became a cooperating witness for the FBI, providing information that sparked the investigation into the relationship between college basketball coaches, financial advisers, sports agents, marketing officials and apparel company employees in recruiting NBA-bound players. Sometime during the fall of 2016, a mutual friend introduced Blazer to Rashan Michel, a former NBA and Southeastern Conference referee. After leaving his NBA referee role in 2001, Michel opened Thompson Bespoke Clothiers in Atlanta, which sold high-end, custom-tailored suits. His clients included NFL players such as Todd Gurley, Teddy Bridgewater, Sammy Watkins and Mike Evans, among others. In 2014, Michel designed the suits worn by the top seven picks in the NFL draft, according to his social media account.
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