Report: Gillispie, Olson lost millions in Ponzi scheme

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As more details emerge following the death of David Salinas – a Houston-area businessman and founder of a local AAU team — it’s clearer than ever that this will be incredibly embarrassing for the college hoops coaches who invested with him.Report: Gillispie, Olson lost millions in a possible Ponzi scheme.

If they’re lucky.

Salinas committed an apparent suicide Sunday not long after news emerged that he was being investigated by the Securities and Exchange Commission for fraudulent practices that might’ve cost those coaches who invested with Salinas more than $7.8 million. Names of those coaches and their monetary investments surfaced Tuesday.

A report by SI.com’s Pablo S. Torre indicates Texas Tech’s Billy Gillispie, former Arizona coach Lute Olson, Baylor’s Scott Drew and Gonzaga’s Mark Few were among the coaches who lost money.

From the report:

According to documents reviewed by SI.com, the value of Gillispie’s investment alone was purported to be $2.3 million; Olson’s, $1.17 million; Drew’s, $621,000; Few’s, $353,000.

SI.com has identified Few and former Rice, Wichita State and Cornell basketball coach Scott Thompson (investment most recently valued at $65,000) as the latest names to be added to an initial list of nine basketball coaches first reported by CBSSports.com. Those nine included: Gillispie; Olson; Drew; Nebraska coach Doc Sadler ($38,000); Texas A&M-Corpus Christi (and former Rice) coach Willis Wilson ($642,000); Gonzaga assistant (and former Utah head coach) Ray Giacoletti ($1.2 million); United States Merchant Marine Academy (and former Nebraska) coach Danny Nee ($23,000); Augustana College coach Grey Giovanine ($533,000); and former Houston and Nevada coach Pat Foster. Save for Foster, SI.com was able to independently confirm each of those individuals as clients of Salinas.

Most coaches expressed shock at the news and at Salinas’ death. (Some denied investing with him for some odd reason.) But beyond being part of a financial scheme gone awry, there could be NCAA issues as well.

Former Houston coach Tom Penders told Dan Wolken of The Daily that he was approached by Salinas in 2004 to invest $100,000. Penders passed despite  a “strong, strong implication” that it would help Penders’ Houston program gain access to prospects who were part of Salinas’ AAU team.

“He talked about all these coaches that he had investing with him,” Penders told The Daily. “I told him because he was an AAU guy, I couldn’t possibly get involved in that. I said, ‘I think that’s kind of a rules violation, or could be.’ ”

No NCAA rule prevents coaches from investing in legitimate financial plans. But there’s a gray area when there are potential recruits involved. Nearly every coach who invested with him landed one of Salinas’ AAU players.

Losing money is bad enough. Those coaches should hope the NCAA doesn’t decide to make it worse.

UPDATE: There are conflicting reports of how the NCAA will proceed. ESPN says there is “no intention at present of opening a formal probe.” But a Houston TV station says the NCAA is already on the case. So there’s that.

You also can follow me on Twitter @MikeMillerNBC.

Kansas lands second commitment in the Class of 2018

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Kansas landed their second big man in the Class of 2018 on Sunday, as David McCormack, a top 50 prospect, announced that he will be a Jayhawk when he plays his college ball.

The 6-foot-10 center picked Kansas over Xavier, NC State, Oklahoma State and Duke.

A product of the famed Oak Hill Academy, McCormack averaged 15 points and 10 boards on the Adidas Gauntlet circuit this spring. He joins fellow four-star big man Silvio de Sousa in the 2018 class for Bill Self, although the Jayhawks will get three players eligible after they sit out the 2017-18 season as transfers: Dedric and K.J. Lawson, who transferred in from Memphis, as well as Charlie Moore, a point guard from California.

Report: North Carolina won’t attend White House

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After capturing a national championship earlier this year, the North Carolina men’s basketball team will not be visiting the White House, a North Carolina spokesman said to Andrew Carter of the The Charlotte Observer.

Although the Tar Heels were invited to go to the White House from the staff of President Donald Trump, the team couldn’t figure out a date that worked.

“We couldn’t find a date that worked for both parties,” North Carolina team spokesman Steve Kirschner said to Carter. “We tried about eight or nine dates and between they couldn’t work out that date, we couldn’t work out that date, so – we would have liked to have gone, but not going.”

According to Carter’s report, Kirschner also said that North Carolina players, “were fine with going.”

With Trump’s recent comments towards NFL players and the national anthem and his Saturday morning tweet at Steph Curry and the Golden State Warriors, there has been a lot of controversy surrounding the President with regards to athletes over the past 24 hours.

Although the timing of this may seem like North Carolina is making some sort of political statement, the school is downplaying any sort of politics by focusing on the bad timing.

Xavier freshman forward Jared Ridder will transfer

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Xavier freshman forward Jared Ridder will transfer from the program to move closer to home, according to a release from the school.

The 6-foot-7 Ridder hails from Springfield, Missouri as he was regarded as a top-150 prospect by Rivals in the Class of 2017.

“After much consideration and talking with my family, I have decided that it is in my best interest to move home,” Ridder said in the release.

“Jared has indicated to the coaching staff that he has a desire to be closer to home,” Xavier head coach Chris Mack said. “While we are disappointed, we all want Jared to be happy moving forward. We wish him nothing but the best.”

A potent scorer and noted perimeter shooter at the high school level, Ridder helped MoKan win the Nike Peach Jam during the summer of 2016 playing alongside talented players like Missouri’s Michael and Jontay Porter and Oklahoma’s Trae Young. With a desire to move closer to home, could Ridder potentially land at a spot where one of his talented former teammates is playing?

Ridder averaged 24.2 points, 6.8 rebounds and 1.8 assists during his senior season of high school ball at Kickapoo as he was a first-team, All-State selection in Missouri.

Four-star 2018 forward Ian Steere decommits from Creighton

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Creighton took a big hit to its recruiting efforts late this week as Class of 2018 forward Ian Steere is decommitting from the Bluejays, a source confirmed to NBCSports.com. Steere’s decommitment was first reported by Julius Kim of Elevate Hoops.

The 6-foot-8 Steere is considered a four-star prospect by Rivals as he is coming off of a very solid spring and summer playing with Team Charlotte in the Under Armour Association. A plus athlete who isn’t afraid to bang on the interior, Steere showing an improving skill level throughout the spring and summer as he could see his recruiting soar after opening things up.

According to a report from Jon Nyatawa of the World-Herald, one of the reasons that Steere is opening up his recruitment is his desire to be closer to his native North Carolina. With so many top programs looking for quality help on the interior, it’ll be interesting to see which programs jump in and try to recruit Steere the second time around.

John Wall emotional in Kentucky Hall of Fame induction speech

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John Wall was inducted into the University of Kentucky Athletics Hall of Fame on Friday night as he delivered an emotional speech while talking to his mother.

The first inductee into the Hall of Fame to play for current Wildcat head coach John Calipari, Wall only spent the 2009-10 season in Lexington but he became the first national player of the year to play at Kentucky before becoming the No. 1 pick in the 2010 NBA Draft.

Thanking his mother, Calipari, his family, friends and Big Blue Nation, the Washington Wizards guard gave a very moving speech, including an emotional part directed to his mother at around 4:35.