On Sunday evening, CBSSports.com uncovered several more college basketball coaches who were connected to investment adviser David Salinas, who died of an apparent suicide. Earlier in the day, former Arizona coach Lute Olson and current Texas Tech coach Billy Gillispie were identified among the initial group of coaches who had invested with Salinas. New coaches to emerge in this investigation include Nebraska’s Doc Sadler and U.S. Merchant Marine Academy coach Danny Nee.
David Salinas Connected With At Least Nine College Coaches
However, this list is likely to grow, though a CBSSports.com source believes many coaches will try to disavow any connection with Salinas. One of the coaches involved did speak with CBSSports.com on Sunday night under the condition of anonymity and said:
“We’re not concerned about the NCAA right now. We’re just scared we got Madoffed.”
Bernie Madoff had developed a giant Ponzi scheme that eventually fell apart in 2008 when he was unable to fill requests that totaled several billion dollars. While details of Salinas’ possible fraud are not yet available, it is believed that these coaches and others have lost millions of dollars.
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