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Arrests coming due to college bball kickbacks
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<blockquote data-quote="slugboy" data-source="post: 691257" data-attributes="member: 282"><p>I follow that. Falsifying tax info is part of what sent Capone to jail. Falsifying records makes more sense to cover up an illegal action. I haven’t seen anyone involved in the cases so far say that paying the players or hangers on was illegal. If so, and my reasoning may be flawed, Adidas and Nike accepted false records illegally to cover up something that was legal but against NCAA regulations. </p><p>If you recorded the expenses correctly, you could have categorized it in a way that didn’t look that weird on your balance sheet and would probably be OK with the Securities and Exchange Commission. You could have just said to the IRS that you were paying athletes to wear your clothes, and report which athletes to the IRS so that they could ask for taxes. I don’t know if the NCAA would have a way to get that information from Nike. The athletes would have a requirement to tell the NCAA, but I don’t think Nike would.</p><p>Long story short, I’m trying to decide if Nike and Adidas could have paid the players, done it legally, and provided no information to the NCAA. It might depend on the contacts that Nike has with the colleges they sponsor, and if those contracts impose any legal obligations to the NCAA.</p><p>They broke a number of laws covering up something that might not be illegal (but obviously NCAA violations). </p><p></p><p>Edit: I’m still not a lawyer, and I’m not sure you’d want me as your lawyer after reading this.</p><p></p><p>Sent from my iPad using Tapatalk</p></blockquote><p></p>
[QUOTE="slugboy, post: 691257, member: 282"] I follow that. Falsifying tax info is part of what sent Capone to jail. Falsifying records makes more sense to cover up an illegal action. I haven’t seen anyone involved in the cases so far say that paying the players or hangers on was illegal. If so, and my reasoning may be flawed, Adidas and Nike accepted false records illegally to cover up something that was legal but against NCAA regulations. If you recorded the expenses correctly, you could have categorized it in a way that didn’t look that weird on your balance sheet and would probably be OK with the Securities and Exchange Commission. You could have just said to the IRS that you were paying athletes to wear your clothes, and report which athletes to the IRS so that they could ask for taxes. I don’t know if the NCAA would have a way to get that information from Nike. The athletes would have a requirement to tell the NCAA, but I don’t think Nike would. Long story short, I’m trying to decide if Nike and Adidas could have paid the players, done it legally, and provided no information to the NCAA. It might depend on the contacts that Nike has with the colleges they sponsor, and if those contracts impose any legal obligations to the NCAA. They broke a number of laws covering up something that might not be illegal (but obviously NCAA violations). Edit: I’m still not a lawyer, and I’m not sure you’d want me as your lawyer after reading this. Sent from my iPad using Tapatalk [/QUOTE]
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Arrests coming due to college bball kickbacks
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