NBA players, college hoops coaches embroiled in investment scandal
NBA players Ekpe Udoh, Cartier Martin were confirmed to be David Salinas' clients
The investments of 13 college basketball coaches are valued at nearly $8 million
Billy Gillispie, Ray Giacoletti, Lute Olson sunk more than $1 million each into bonds
|SI writer-reporter Pablo Torre discusses his story on how a group of college coaches, administrators and NBA players fell victim to a Ponzi scheme.|
Last week, SI.com reported that several coaches and athletic administrators were scammed out of millions by the late Houston-area money manager and AAU operator David Salinas. After reviewing documents, and in conjunction with a forthcoming story in this week's Sports Illustrated, SI.com can add more names to the list.
The dollar figure following each name is the most recent valuation of their particular at-risk investment, which was purported to be in corporate bonds.
Two NBA players, 2010 Warriors lottery pick Ekpe Udoh ($350,000) and former Wizards swingman Cartier Martin ($374,000), were confirmed to be clients by SI. So was one former athletic director and NCAA selection committee member, Rudy Davalos ($83,000). The investment of 13 college basketball coaches alone, meanwhile, is valued at nearly $8 million. The total amount of money in the bonds, whose very existence remains in doubt, is an estimated $55 million, none of which has been recovered.
Besides what is listed below, SI has also learned Salinas has numerous other sports-related clients -- college basketball coaches included -- whose names are not yet public, and whose money is not believed to be at risk in this particular case.
1. Billy Gillispie -- current Texas Tech (and former Texas A&M and Kentucky) head basketball coach: $2.3 million
2. Ray Giacoletti -- current Gonzaga assistant basketball coach (and former North Dakota State, Eastern Washington and Utah head coach): $1.2 million
3. Lute Olson -- former Arizona head basketball coach: $1.17 million
4. Art Briles -- Baylor head football coach: $780,000
5. Willis Wilson -- current Texas A&M-Corpus Christi (and former Rice) head basketball coach: $642,000
6. Scott Drew -- current Baylor (and former Valparaiso) head basketball coach: $621,000
7. Grey Giovanine -- current Augustana head basketball coach (and former Rice assistant): $533,000
8. Cartier Martin -- former Washington Wizards guard (and former Houston Select and Kansas State player): $374,000
9. Mark Few -- current Gonzaga head basketball coach: $353,000
10. Ekpe Udoh -- current Golden State Warriors forward (and former Baylor player): $350,000
11. Martin Fox -- adidas "Grass Roots Director of Houston" and Houston Select staffer: $249,000
12. Tim Jankovich -- current Illinois State head basketball coach: $184,000
13. Jason Skaer -- pastor and former Oklahoma State and Rice forward: $129,500
14. Rudy Davalos -- former University of New Mexico athletic director, NCAA tournament selection committee member, San Antonio Spurs assistant and University of the South head basketball coach: $83,000
15. Scott Thompson -- former Rice, Wichita State and Cornell head basketball coach: $65,000
16. Doc Sadler -- current Nebraska (and former UTEP) head basketball coach: $38,000
17. Mike Chismar -- Arizona State associate athletics director: $30,000
18. James Elgas -- current Evansville (and former Kansas State) assistant head basketball coach: $24,000
19. Danny Nee -- United States Merchant Marine Academy (and former Nebraska) head coach: $23,000
20. Steve Lutz -- current Creighton (and former SMU) assistant basketball coach: $9,000
21. Bill Yeoman -- former Houston head football coach: T.B.D.
To read Pablo S. Torre's story in this week's Sports Illustrated, check out SI All Access.
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