Arizona And LSU Coaches Subpoenaed For Corruption Trial

[PushupMan]

Bowen’s gift tax on $100K would have been about $32K, by the way ... As you state, that wasn’t the focus of the investigation, but I do find it somewhat hard to believe that a fan of a program potentially facing very harsh NCAA sanctions as a repeat violator of NCAA rules would not consider this type of attempt to clean up college basketball a good thing....

Otherwise, UofL would have to avoid signing every elite prospect due to the very real possibility of signing a player who turned out later to have been ineligible due to having been paid by a shoe company.

As I’m typing that, I cannot help to think back to Denny Crum’s last four seasons, and Rick Pitino’s first 3. A very consistent complaint during that time frame was how disappointing UofL’s recruiting was. It’s certainly not out of the realm of possibility to think that UofL had to avoid certain prospects during that timeframe because of NCAA probation.

 

[BPGhost]

You can’t discover something unless you look for it.

Again - not the point I was making. So in the interest of moving forward let me stipulate that tax evasion is indeed within the FBI’s scope. I just happen to believe that given their limited resources - both in manpower and budget - they have areas to focus on that are significantly more in the public interest. Furthermore, popping a family like the Bowens for 32K is stepping over dollars to chase pennies when it comes to groups really defrauding taxpayers on any sort of level.

But hey - that’s just me. I also don’t think the war on drugs has been a giant waste of resources as well.

 

[BPGhost]

Bowen’s gift tax on $100K would have been about $32K, by the way ... As you state, that wasn’t the focus of the investigation, but I do find it somewhat hard to believe that a fan of a program potentially facing very harsh NCAA sanctions as a repeat violator of NCAA rules would not consider this type of attempt to clean up college basketball a good thing....

I don’t believe that I said it was a bad thing - it just shouldn’t be the FBI’s (or Congress’) thing. If the ncaa is unable to fulfill its mandate on its own - it should be disbanded.

 

[KerryRhodes]

Again - not the point I was making. So in the interest of moving forward let me stipulate that tax evasion is indeed within the FBI’s scope. I just happen to believe that given their limited resources - both in manpower and budget - they have areas to focus on that are significantly more in the public interest. Furthermore, popping a family like the Bowens for 32K is stepping over dollars to chase pennies when it comes to groups really defrauding taxpayers on any sort of level.

But hey - that’s just me. I also don’t think the war on drugs has been a giant waste of resources as well.

The FBI got involved because of Gatto or whoever snitching on coaches buying players through shoe companies and runners.

The NCAA welcomed the investigation under the guise of protecting/cleaning up their product.

I.e doing the NCAAs legwork and job.

I believe we all agree the FBI has a million cases more important than NCAA sports cheating.

 

[BigBlueFanGA]

Bowen’s gift tax on $100K would have been about $32K, by the way ... As you state, that wasn’t the focus of the investigation, but I do find it somewhat hard to believe that a fan of a program potentially facing very harsh NCAA sanctions as a repeat violator of NCAA rules would not consider this type of attempt to clean up college basketball a good thing....

Otherwise, UofL would have to avoid signing every elite prospect due to the very real possibility of signing a player who turned out later to have been ineligible due to having been paid by a shoe company.

As I’m typing that, I cannot help to think back to Denny Crum’s last four seasons, and Rick Pitino’s first 3. A very consistent complaint during that time frame was how disappointing UofL’s recruiting was. It’s certainly not out of the realm of possibility to think that UofL had to avoid certain prospects during that timeframe because of NCAA probation.

Unless the giver had exceeded his 11.2M lifetime exclusion, there would be no tax on the gift.

 

[KerryRhodes]

Unless the giver had exceeded his 11.2M lifetime exclusion, there would be no tax on the gift.

So one could give up to 11.2 with no tax or is it still 11,000 per year tax free ?

 

[WhatMeWorry]

The 11.2 mil is on the giver. If the giver doesn't pay the tax, the recipient could be liable for it. But, these are for gifts. Are you suggesting Adidas was passing out GIFTS. That's a hard sell.

 

[BigBlueFanGA]

So one could give up to 11.2 with no tax or is it still 11,000 per year tax free ?

It adjusts every year. This year its 11.4M. That's lifetime, not per year.

 

[zipp]

Income taxes are just one issue, and I'd argue not a major one. The cases were brought on the premise of taxpayer fraud. People who put public institutions at risk of incurring financial penalties are effectively stealing from taxpayers.

The FBI is bringing these actions on behalf of the American public. And although the data are limited, they are successfully proving damages and getting convictions. I find nothing wrong with any of that...