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Also haven't been around much and jsut got the chance the read this whole thread. anyone appologize for callign guys like Nik/Goose/YnC shills and worse for the shoe company stuff yet?
 
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SpacemanSpiff said:
Heard this yesterday, but don't see it in this thread yet. Apparently, Pitino is suing Adidas. Not sure how he can do that with a straight face.
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Wow, you would think a guy who shagged a married woman on a restaurant dining table (EDIT: bathroom stall, much classier) would have more class than that.....Adidas really did a number on his public and private standing in the community.
 
Buffnik said:
Shocking. I thought they went from doormats to Final Four caliber in a few years through good, old fashioned hard work, great teaching and awesome system design.
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I don't see why they couldn't have - **** bailer succeeded purely because they were clearly blessed by God.
 
absinthe said:
Also haven't been around much and jsut got the chance the read this whole thread. anyone appologize for callign guys like Nik/Goose/YnC shills and worse for the shoe company stuff yet?
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If I called them that, I apologize. Although I don't remember ever doing so. I have long suspected there were strange things afoot (pun intended) in college hoops recruiting. I also suspect something similar is taking place in college football, as the stakes are much higher there.
 
SpacemanSpiff said:
Heard this yesterday, but don't see it in this thread yet. Apparently, Pitino is suing Adidas. Not sure how he can do that with a straight face.
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That sort of feels like a case with no case, but something else behind the scenes - i.e. Pitino will sing like a bird unless he is paid off
 
buffgal said:
Retired IRS agent. It's been a while so I don't remember some of the complex tax law.

I do know that the FBI and IRS special agents (criminal) often work together and with other agencies. Remember it was the IRS who finally took down Al Capone.

As for tax fraud, while the IRS can go back forever in the case of fraud, it is very unusual for that to happen. They can't practically go back before the time when computers were used to store information. The general rule for fraud cases when I was there was 6 years of returns. Anybody who received money, and that includes the players and parents, will probably have an IRS audit/investigation in their future.

If you report somebody with that form and provide specific information, IRS will actually pay you. I had one case based on information in a form like that and it was excellent information for a fraud case, which we proved. I signed off on the paperwork that the informant's information was good and sent it on. Manager also signed it. Don't know time frame, but I know we recommended the informant get $. Information has to be specific, not just that so and so cheated.
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Interesting point. The IRS probably will probably look hard at the parents/players who received $$. Doubtful they claimed it on their taxes...
 
SpacemanSpiff said:
Heard this yesterday, but don't see it in this thread yet. Apparently, Pitino is suing Adidas. Not sure how he can do that with a straight face.
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Wow- Louisville must be holding their breath hoping that case gets dismissed or settled out of court. If everything alleged is close to true, Adidas probably has documentation to sink Pitino, and strong motivation to share it based upon the fact that what they did to my knowledge isn't illegal per se, but against NCAA rules. Any evidence in the case could be turned on l'ville.
 
I imagine FBI corruption investigation could reach the shoe companies on a RICO count. Adidas and Nike would cooperate to avoid the harshest penalties and give up their employees and the coaches. Petino is stupid for doing this.
 
El Gringo said:
I imagine FBI corruption investigation could reach the shoe companies on a RICO count. Adidas and Nike would cooperate to avoid the harshest penalties and give up their employees and the coaches. Petino is stupid for doing this.
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Pitino thinks he sees some light at the end of the tunnel, it's a train.

He is used to getting his way, he is used to being important enough that his administrators and even the NCAA wouldn't mess with him.

This time it's the feds and instead of his fame giving him power it makes him a bigger target.

He is done, his college coaching career is over, probably any hope for an NBA job as well. His identity is as a head coach, to him that is who he is and he isn't ready to let it go. His extending the situation by going this kind of filing is just going to draw more attention to him and take down others as well.
 
Pitino is estimated to be worthy $25M. He has no need to coach again and he can use a $1M in legal fees to sully his former employer without much financial damage.
 
PAHIBuff said:
Interesting point. The IRS probably will probably look hard at the parents/players who received $$. Doubtful they claimed it on their taxes...
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I have talked to some former co-workers. This is a no brainer for the IRS.

IRS has a lot of agents trained in money laundering who are experts at following the money.
 
Crossing my fingers on what all this means for CU and that we'll benefit the same way State did when the **** hit the fan for Johnny Walker's recruitment.
 
Buffnik said:
Crossing my fingers on what all this means for CU and that we'll benefit the same way State did when the **** hit the fan for Johnny Walker's recruitment.
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agreed.

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buffgal said:
I have talked to some former co-workers. This is a no brainer for the IRS.

IRS has a lot of agents trained in money laundering who are experts at following the money.
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I expect they will go after some of these families, and that a lot of the families will be begging to play lets make a deal. These coaches who are trying to pretend like they didn't know what was going on might want to start budgeting for end of their current incomes.
 
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