Another day, another development in the David Salinas investment scandal.
Salinas, a Houston-area businessman who sponsored a local AAU team, was found dead from a self-inflicted gunshot wound last week. Numerous college coaches invested money with Salinas – some lost millions in a scam – raising questions about how closely involved Salinas was in the recruiting of players to those coaches’ programs.
Now even more coaches are on that list.
An update by Sports Illustrated writer Pablo S. Torre brings the list who invested with Salinas to 21. It now includes former college players, assistant coaches and other hoops figures.
Torre also provided one of the most revealing stories yet on Salinas, chronicling his rise as an investor, AAU backer and relationships with his AAU players. Many involved speak fondly of Salinas.
The story also contains what promises to be the next nugget in this story: How the NCAA might proceed. Here’s the pertinent excerpt :
Of interest: the dates of coaches’ investments with J. David Financial, which remain unknown, and the dates that Select players signed with their schools. There is also a lengthy list of other college basketball coaches who were Salinas clients—none of whose names are yet public—who did not invest in the bond scheme and whose money is not at risk. “What we know right now is this guy apparently took a whole bunch of people, coaches included, in this Ponzi scheme,” a high-ranking NCAA official says. “What we don’t know is whether or not there was any funneling of kids. That’s what we have to ask around about and determine.”
How long it takes the NCAA to probe Salinas’ financial background is another story. Don’t expect anything soon. But don’t expect it to go away, either.
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