Arrests coming due to college bball kickbacks

[mstranahan]

In order for the IRS to allege unpaid taxes, they have to prove the money was given to someone. From what I've seen, most of the money was going to assistant coaches and others who then, allegedly, funneled some of it to players and kept some. The wire transfers were to coaches, I believe. If so, the IRS will definitely hit them for unpaid taxes, with penalties and interest. If the coaches then show that they gave the money to someone else, the IRS will pursue those folks. It all comes down to who they can prove received the money.

And, FWIW, the IRS will also go after the providers of the money for not filing 1099s for the individuals they paid. Penalties can be quite steep for that, esp when shown to be intentional and intended to deceive the IRS

 

[orientalnc]

Tax evasion is a type of fraud and teaming up with others to avoid reporting and paying taxes is called conspiracy. Those are still federal crimes.

 

[RamblinRed]

I too hope it stops, but I don't think any of us are shocked by this news. This has been going on for years. Remember Sebastian Telfair and the Middle Age White man...lol

To me, the only shocking thing to me is that Coach Cal and a few others haven't had their names dropped.

if you want an interesting story that is tangentially related to Cal go listen to the Parrish and Norlander podcast from Tuesday on CBSSports.
In it they talked about a conversation Norlander had with the head of NCAA Enforcement back at the time of the story.
Basically World Wide Wes was on the floor of the James LeBron Skills Academy this particular year. This got at least 60 coaches upset enough to call the head of enforcement and complain because first, Wes is 'Cal's guy' and second, he was an agent and therefore it was against NCAA Rules for him to be there on the floor mingling with the kids.
After getting chewed out by all these coaches she went to Nike and asked them to keep Wes off the floor. Nike told her 'No, we're going to let Wes do want he wants'.
Norlander then asked her what she could do. She said all she could do is decertify the Lebron James Skills Academy as an NCAA sanctioned event the following year. So he asked, did you do that. Here answer - of course not.

So basically the NCAA had no real teeth to enforce anything and that is how the schools set it up as the NCAA is simply the organization that is created by the schools and the schools create the rules and enforcement policies that are enacted by the NCAA.

 

[Jumpman]

I’m hearing that investigations into Duke and Kentucky will be announced either today or Monday. I don’t have any other details.

 

[Deleted member 2897]

I’m hearing that investigations into Duke and Kentucky will be announced either today or Monday. I don’t have any other details.

Of course you don't.

 

[YlJacket]

I too hope it stops, but I don't think any of us are shocked by this news. This has been going on for years. Remember Sebastian Telfair and the Middle Age White man...lol

To me, the only shocking thing to me is that Coach Cal and a few others haven't had their names dropped.

In every industry there are always differences between amateurs and professionals

 

[Jumpman]

Of course you don't.

Huh?

 

[orientalnc]

I’m hearing that investigations into Duke and Kentucky will be announced either today or Monday. I don’t have any other details.

Where are you hearing this? If there was even a slight chance this might happen there would be a special edition of Inside Carolina blast out to everyone who could spell UNC.

 

[Jumpman]

Where are you hearing this? If there was even a slight chance this might happen there would be a special edition of Inside Carolina blast out to everyone who could spell UNC.

College coaches are talking about it.

 

[orientalnc]

College coaches are talking about it.

I admit to not being the most clever search user on Google, but I cannot find anything. On which sites are you seeing this?

 

[Jumpman]

I admit to not being the most clever search user on Google, but I cannot find anything. On which sites are you seeing this?

I’m not getting this from any website. As I said in my post above, college coaches are talking about it. That is the word that is being spread throughout the coaching ranks. Once again, I am not getting this from any website.

 

[Peacone36]

I admit to not being the most clever search user on Google, but I cannot find anything. On which sites are you seeing this?

It’s quite clear Jumpman reaches further into the fridge than google provides

 

[RonJohn]

Tax evasion is a type of fraud and teaming up with others to avoid reporting and paying taxes is called conspiracy. Those are still federal crimes.

Tax evasion is illegal. Were any of the people arrested charged with it? Did any of the indictments mention tax evasion?

 

[Peacone36]

 

[Connell62]

I’m hearing that investigations into Duke and Kentucky will be announced either today or Monday. I don’t have any other details.

Hmmm....someone get the popcorn ready!

It started out as a joke, but thank God we have been a Russell school!

 

[Deleted member 2897]

Louisville just can't help themselves.

 

[travgt01]

I’m not getting this from any website. As I said in my post above, college coaches are talking about it. That is the word that is being spread throughout the coaching ranks. Once again, I am not getting this from any website.

Are you a college coach? FBI,internal or NCAA investigation?

 

[Jumpman]

Are you a college coach? FBI,internal or NCAA investigation?

I am not a college coach. It appears to be part of the FBI investigation.

 

[orientalnc]

You are getting this from someone in the FBI? Wow!

 

[Connell62]

You are getting this from someone in the FBI? Wow!

Are you really that confused as to where it's coming from?

Jump has shown a number of times that he's plugged in.

Doubt him at your own risk.