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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.

Top-25 guard trims list to six

Trae Young , Brace Hemmelgarn/Getty Images
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One of the top points guards in the Class of 2017 has trimmed his list of potential collegiate destinations to six.

Trae Young, a consensus top-25 recruit, listed Texas Tech, Kansas, Oklahoma, Washington, Oklahoma State and Kentucky as the schools he is considering as he readies to begin his senior year of high school.

The list of the 6-foot-2 point guard is largely provincial as it includes Oklahoma, whose campus is just minutes away from Young’s Norman North High School, and fellow in-state school Oklahoma. Another pair of Big 12 schools make the list in powerhouse Kansas and the Red Raiders, whose first-year coach, Chris Beard, has spent the bulk of his career working in Texas. Texas Tech is also Young’s father’s alma mater. Washington has been on a role sending its players to the pros and recently received the commitment of top-five 2017 recruit Michael Porter, Jr.

Kentucky, of course, needs no explanation as to its attractiveness to high-level players.

Top-100 guard commits to Xavier

Chris Mack has Xavier back in the Sweet 16 (AP Photo)
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Xavier has added a top-100 prospect into its 2017 recruiting class Wednesday.

Elias Harden, a shooting guard from Georgia, pledged to the Musketeers via social media to become the second member of Chris Mack’s next class.

“The recruiting process was not EASY AT ALL,” Harden wrote on Twitter. “I wanna thank all the coaches that took time to recruit me.

“WIth that being said I will continue my academic and athletic career at Xavier University.”

The 6-foot-6 guard is ranked 92nd overall by 247Sports and had offers from Auburn, Maryland, Texas Tech and Ole Miss. He joins Jared Ridder, a Missouri guard, as part of the 2017 Xavier class.

The Musketeers return the bulk of last year’s 28-6 team that narrowly missed out on the Sweet 16.

Clemson recruit to enroll early

Brad Brownell
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Clemson will get a four-star recruit on campus a year earlier than it expected, though his on-court debut for the Tigers will remain on schedule.

A.J. Oliver, a guard from South Carolina, will enroll early at Clemson and redshirt this upcoming season, he announced via social media Wednesday.

“I woke up this morning and realized that the greatest opportunity for me is to enroll early into Clemson,” he wrote on Twitter. “I will redshirt a year & start my college career early.”

Oliver, whose mother is the head women’s basketball coach at Clemson, was a consensus top-100 player in the class of 2017 who committed to the Tigers last December. Texas Tech and the College of Charleston were involved before his commitment.

A three-star shooting guard, Scott Spencer of Virginia, was previously the only member coach Brad Brownell’s 2016 class. While Oliver’s decision to redshirt will keep him off the court for the 2016-17 season, he’ll have spent a full season in the Tiger program before making his debut in 2017

The cupboard isn’t bare in 2017 for the Tigers due to Oliver’s reclassification because Clemson received a commitment from power forward Malik Williams, a consensus top-150 player, earlier Wednesday.

Kentucky used Calipari-Chaney fight in media training

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Kentucky Sports Radio
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Kentucky held some media training sessions yesterday, and one of the topics that head coach John Calipari used to make a point was … his blow-up with John Chaney. The moment was captured on SnapChat by a trio of Kentucky newcomers.

You remember that incident. Chaney, then the head coach at Temple, and Cal, who was coaching Atlantic 10 rival UMass at the time, nearly came to blows over the way that Cal handled officials during the game. Before the video below picks up, the two shared this exchange:

“Could I say this to you, please?” Chaney said, before the video above picks up. “You’ve got a good ball club. But what you did with the officials out there is wrong, and I don’t want to be a party to that. You understand?”

Cal responded: “You weren’t out there, Coach. You don’t have any idea.”

Chaney fired back: “You got a game given to you by officials right here with G.W. on three bad calls, O.K.? Then you send your kids out there pushing and shoving. You had the best officiating you could ever get here. And for you to ride them, I don’t want to be a party to that.”

And that led to “I’ll kill you”:

(h/t KSR)

VIDEO: Shaq’s son, Shareef O’Neal, with monster dunk in Vegas

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Shareef O’Neal is a top 50 prospect in the Class of 2018. In Vegas this past weekend, he threw down a monster put-back dunk.