Here's what others are saying about the unfolding scandal involving investment adviser and founder of a top summer basketball program David Salinas, whose list of investors reportedly included current and former college coaches, among them Arizona's Lute Olson:
SI.com: http://sportsillustrated.cnn.com/2011/basketball/ncaa/07/19/coaches.investment/index.html" target="_blank">More than dozen college coaches involved in possible Ponzi scheme
More than a dozen current and former college coaches -- including Texas Tech's Billy Gillispie, Arizona's Lute Olson, Baylor's Scott Drew and Gonzaga's Mark Few -- are believed to have lost investments most recently valued at over $7.8 million combined with the late Houston-area businessman and AAU basketball operator J. David Salinas, sources close to the matter tell SI.com.
Houston Chronicle: http://www.chron.com/disp/story.mpl/sports/solomon/7659092.html" target="_blank">Easy to believe tale of shady recruiting
Before we go any further, how could college coaches think it is OK to invest money with a person who operates one of the top summer league programs in the state? That is where this mess starts.
Houston Chronicle, King Solomon's Mind blog: http://blog.chron.com/jeromesolomon/2011/07/david-salinas-story-just-starting-to-be-told/" target="_blank">David Salinas story just starting to be told
The story probably isn’t as simple as Salinas steered players in a certain direction recruiting-wise for business favors. That is the easy, obvious tale. And though it is one that at least two people told me was the case in their dealings with him, there is more to it than that.
CBS Sports, Eye on College Basketball blog: http://eye-on-college-basketball.blogs.cbssports.com/mcc/blogs/entry/26283066/30713587?source=rss_blogs_NCAAB" target="_blank">Yes you did do what we said you did, Coach Nee
Every coach named but one has either acknowledged the financial dealings with Salinas or declined comment. The lone exception is former Duquesne and Nebraska coach Danny Nee, who told the Omaha World-Herald he was aware of our report before adding, "Whatever they said I did, I didn’t do."
So what did we say Nee did?
We reported he invested money with Salinas.
Why did we report that?
ESPN, College Basketball Nation Blog: http://espn.go.com/blog/collegebasketballnation/post/_/id/33006/tom-penders-talks-about-salinas-scandal" target="_blank">Tom Penders talks about Salinas scandal
At best, a score of coaches invested their money in what appears to be a ponzi scheme. At worst, they did so in exchange for the ability to recruit players from Salinas' program. The first implication is embarrassing; the second could be downright explosive.