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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.

Villanova’s Jenkins to return for senior season

Villanova forward Kris Jenkins (2) reacts to play against North Carolina during the second half of the NCAA Final Four tournament college basketball championship game Monday, April 4, 2016, in Houston. (AP Photo/Charlie Neibergall)
AP Photo/Charlie Neibergall
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After briefly taking part in the NBA Draft evaluation process, Villanova forward Kris Jenkins announced Monday night that he’s decided to withdraw and return to school for his senior year. Jenkins, whose three-pointer as time expired gave the Wildcats the win over North Carolina in the national title game, announced the news via Twitter.

2015-16 was a breakout season for Jenkins, who moved into the starting lineup and averaged 13.6 points, 3.9 rebounds and 2.2 assists per game. The 6-foot-6 forward shot 45.9 percent from the field and 38.6 percent from beyond the arc, and with starters Ryan Arcidiacono and Daniel Ochefu graduating he’ll have even more opportunities to produce next season.

Jenkins’ decision to return leaves wing Josh Hart as the lone Wildcats going through the early entry process at this time. Hart was a first team All-Big East selection as a junior, and his return would be the final piece to the puzzle for a team that many expect to be a national title contender in 2016-17.

Jenkins and Hart wouldn’t be the only returnees who had a part in the national title run, with guards Jalen Brunson and Phil Booth, wing Mikal Bridges and forward Darryl Reynolds back as well. To that group Villanova adds Fordham transfer Eric Paschall and a recruiting class anchored by Omari Spellman and Dylan Painter with Donte DiVincenzo and Tim Delaney available after being hampered by injuries last season.

Delaney missed all of last year after undergoing surgical procedures on his hips, and DiVincenzo played a total of 74 minutes over the first nine games before having to sit due to a broken foot.

Florida State guard Rathan-Mayes to return for junior season

Florida State guard Xavier Rathan-Mayes (22) drives past Notre Dame guard Rex Pflueger, left, for a score in the first half of an NCAA college basketball game in Tallahassee, Fla., Saturday, Feb. 27, 2016. (AP Photo/Mark Wallheiser)
AP Photo/Mark Wallheiser
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With their top three scorers from last season all deciding to declare for the NBA Draft, Florida State was facing the possibility of having to rebuild their backcourt ahead of the 2016-17 season. However two of those three have decided to return to Tallahassee, with rising junior Xavier Rathan-Mayes announcing on Monday that he will be back in school.

Rathan-Mayes joins rising sophomore Dwayne Bacon in returning to play another season for head coach Leonard Hamilton, with Malik Beasley hiring representation and remaining in the draft.

Rathan-Mayes had more scoring help last season and as a result was able to concentrate more on the distribution aspects of the point guard position, as he averaged 11.8 points and 4.4 assists per contest. With the return of Rathan-Mayes and Bacon, Florida State will have two of its top three scorers from last season back on campus.

The Seminoles did lose some veteran players, most notably guard Devon Bookert and center Boris Bojanovsky, but the returnees and a recruiting class led by McDonald’s All-American forward Jonathan Isaac means that they won’t lack for options next season.

Auburn lands third transfer within the last week

Auburn guard T.J. Dunans (4) and coach Bruce Pearl celebrate a 75-74 win over UAB in an NCAA college basketball game Friday, Nov. 13, 2015, at Auburn Arena in Auburn, Ala.  (Julie Bennett/AL.com via AP)
Julie Bennett/AL.com via AP
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After receiving commitments from former Purdue/Houston guard Ronnie Johnson and former Presbyterian forward DeSean Murray, Auburn head coach Bruce Pearl continued to load up on the transfer market Monday. Forward LaRon Smith, who was named MEAC Defensive Player of the Year at Bethune-Cookman last season, announced that he will use his final season of eligibility at the SEC program.

Like Smith, Johnson will also be eligible to compete immediately for the Tigers while Murray will have to sit out next season before having two years of eligibility remaining.

The 6-foot-8 Smith played two seasons at Georgia State before transferring to Bethune-Cookman, where he averaged 7.1 points, 6.9 rebounds and 3.0 blocks per contest in 2015-16. Smith played just over 25 minutes per game for the Wildcats, shooting 58.5 percent from the field.

Smith reached double figures in scoring in four of the Wildcats’ final seven games, including a 20-point, 11-rebound, three-block outing in an overtime win over North Carolina A&T. He joins a front court in need of depth following the departures of the likes of Cinmeon Bowers and Tyler Harris, with Horace Spencer, Trayvon Reed and incoming freshman Anfernee McLemore also competing for minutes in 2016-17.

SMU lands former Arkansas guard Jimmy Whitt

Arkansas guard Jimmy Whitt (24) leaps for a layup past Tennessee guard Shembari Phillips (25) during an NCAA college basketball game in Knoxville, Tenn., Saturday, Feb. 27, 2016. Arkansas won 75-65. (Adam Lau/Knoxville News Sentinel via AP)
Adam Lau/Knoxville News Sentinel via AP
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With a five-member recruiting class set to arrive on campus this summer, SMU added a talented transfer Monday afternoon. Jimmy Whitt, who played his freshman season at Arkansas, committed to join Larry Brown’s program. Whitt, a 6-foot-4 guard from Columbia, Missouri, will have three seasons of eligibility remaining after sitting out the 2016-17 campaign.

As a freshman at Arkansas, Whitt averaged 6.1 points and 1.7 rebounds in just over 17 minutes of action per game. He reached double figures in scoring nine time, with the high being a 15-point outing in a blowout win over Missouri in mid-January. Whitt produced a stretch of four consecutive games in double figures during non-conference play, but he struggled to maintain that consistency against SEC competition.

At SMU he’ll join a perimeter rotation that will lose rising senior Sterling Brown following the 2016-17 season. Among those who will have eligibility remaining when Whitt becomes eligible are Ben Emelogu, Shake Milton, Jarrey Foster and incoming freshmen Tom Wilson and Dashawn McDowell.

 

Boise State assistant named head coach at Northern Colorado

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Courtesy UNCBears.com
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GREELEY, Colo. (AP) Jeff Linder is the new basketball coach at Northern Colorado. He spent the last six seasons at Boise State, where he was associate head coach for the Broncos since 2013-14.

Linder replaces B.J. Hill, who was fired last month amid an NCAA investigation into allegations of violations in the program.

University President Kay Norton and Athletic Director Darren Dunn announced Linder’s hiring Sunday.

Linder played high school ball in Lafayette, Colorado, and college ball at Mesa State and Western Colorado State. He began his coaching career under Colorado head coach Ricardo Patton.

In a statement, Linder said, “I look forward to returning home to the state of Colorado and continuing to build this program into something everyone can be proud of.”

Hill was 86-98 in six seasons at UNC.