Some question why the FBI is involved. My question is who paid Federal Income Taxes on these gifts of thousands of dollars.
Follow the money.
Follow the money.
With Thousand Of Dollars Involved Is This An IRS Violation
- Thread starter Sawnee Cat
- Start date
The Feds got involved because the payments made from Adidas were falsified on their books. They weren't going to write and invoice for 100K for "paying a recruit to go to Louisville"
Taxes are just one of the issues, Wire fraud, you name it.....that is why the FBI is involved.....
Death sentence for every school not named North Carolina.
![[banana]](https://ct.yimg.com/mr/uploads/891/1682178.gif "banana [banana]")
It's time for UL to dismiss the Assistant Coach so the NCAA can't question him..Ala McGee style...But the FBI can...stay tuned
"Elite coach my a**"
"Elite coach my a**"
According to the press conference, the investigator said that the Feds were involved because employees of taxpayer supported institutions (which public schools are) are forbidden from taking bribes. He characterized the payments made to coaches from agents as receiving bribes. I'm sure the IRS will be involved as well.
that's also why Coach 1 and Coach 2 at University 6 wasn't arrested yesterday. it wasn't the coaches who got the money there, it was the kid. it's not illegal for Adidas and their schools to pay the kids to go to particular schools.
But, the kid just made a lot less money. If Adidas paid him $100K to go to U6 on June 3rd, he darn sure has to claim it on taxes this coming year. So, the $100K he got, just became about $70K, since he will have to pay state and federal taxes, fica, and medicare. Hope it was worth it for him.
Its funny how in retrospect, a $1,000 Emory Air Freight package now pales in comparison to an Adidas shoe box filled with $100,000.
Apparently he didn't get the full payment yet.
Only like 25k so far if I remember right.
If anyone received the ill gotten funds this year, the taxes won't be due until April 15, 2018. For money received in 2016, they can still timely file by October 15th of this year. For the tax years 2015 and beyond, they will need to file an amended return.
The core federal charges involve bribery to agents of institutions receiving federal funds. This is some very creative prosecution. Something or someone triggered this action by the Prosecutor for the Southern District of New York. I suspect it was information shared by the confidential informant who was wired up during all of these nefarious activities. The informant is no doubt facing serious criminal charges of his own.
Historically, the US Attorney for the Southern District of New York initiates the highest profile prosecution cases of any United States Attorney. See link: http://www.businessinsider.com/why-the-southern-district-of-new-york-is-so-prestigious-2013-11
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