Tom Penders, the former University of Houston men’s basketball coach, said he turned down an offer to invest with David Salinas in 2004 out of fear of violating NCAA rules. Salinas was a financial advisor and former Houston area AAU basketball coach who killed himself last weekend.
David Salinas’ AAU Status Made Some College Basketball Coaches Nervous
“I told him, I’d like to have a good relationship and I’ll go watch your teams play,’” Penders said. “But I just thanked him and told him I don’t think I can get involved.
“I’m just glad I never invested with him. Coaches are supposed to be street smart. I just can’t believe guys wouldn’t know that was against the rules. It’s beyond me.”
Since Salinas’ death, CBSSports.com has discovered that the Securities and Exchange Commission had been investigating Salinas for possibly defrauding several basketball coaches. Penders, who retired in 2010, said the implication was that investing with Salinas would help steer AAU players to Houston. This news could be significant as it would indicate a clear violation of NCAA rules. Salinas’ AAU program sent notable players to such programs as Texas, Arizona and Kansas State.
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