David Salinas, while not working as an investment adviser, ran a well-known basketball camp in Houston, but on Sunday he was found dead as a result of a possible suicide, reports CBSSports.com. It is possible his suicide is related to the recent investigation the U.S. Securities and Exchange Commission started concerning possible fraud.
Summer Basketball Program Founder Dead During Far-Reaching Investigation
According to CBSSports.com’s sources, some of Salinas’ clients were college basketball coaches who lost millions of dollars under his advisement:
Former Arizona coach Lute Olson, Baylor coach Scott Drew, Texas Tech coach Billy Gillispie and former Utah coach and current Gonzaga assistant Ray Giacoletti are among those CBSSports.com has confirmed had money invested with Salinas. “But the list is much longer,” one source said. “Lots of coaches had money with him, but they’re going to try to deny it and just hope it doesn’t come out.”
One major issue here, the report goes on to say, is that Salinas’ basketball camp was where many of these same college coaches came to recruit their future student-athletes. This appears to be a possible conflict of interest, though the NCAA has yet to say anything on the matter.
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