The penalties are much more severe. Even the threat of that might make their top execs sing like canaries.

Among the underlying crimes required to use this statue (you must be guilty of at least two of them, if I read it correctly) are bribery, fraud and money laundering.

Penalties include forfeiture of all profits made from the illegal activities. That could be construed to be all those companies' profits, if exerting influence over collegiate sports is shown to be an important part of the companies' marketing strategies.

The CEOs of the companies could be charged even if you can't prove they engaged in the activities directly, but rather through a subordinate (like a senior VP, who we could liken to a mafia capo for this purpose).

What were the crimes alleged by the FBI again?

We aren't talking millions of dollars, we aren't talking people getting whacked. Do people really need to go to jail for this?? Because they cheated at college sports?? Come on ...

(09-29-2017 11:44 AM)MplsBison Wrote:  We aren't talking millions of dollars, we aren't talking people getting whacked. Do people really need to go to jail for this?? Because they cheated at college sports?? Come on ...

Well, we are in fact talking about millions of dollars. And the FBI apparently thinks it is worth the three years they have already invested in this investigation. I don't think they care whether somebody is cheating at sports. They must have some other motivation.

(09-29-2017 11:44 AM)MplsBison Wrote:  We aren't talking millions of dollars, we aren't talking people getting whacked. Do people really need to go to jail for this?? Because they cheated at college sports?? Come on ...

This could spread to football as well. If people are singing, we might hear football coaches get arrested as well. Look where all the good players are going? Alabama, Florida State, Clemson and Ohio State seems to be the best year end and year out. Michigan is starting to go that way as well. If the shoe companies go further than just basketball? They are making money in all the money making sports at the college level. They said some big name coaches could be involved. KU, Duke, UNC and Villanova? UConn for the women's side. Maybe Saban, Sweeney and some others in college football could also be targeted as well?

(09-29-2017 11:44 AM)MplsBison Wrote:  We aren't talking millions of dollars, we aren't talking people getting whacked. Do people really need to go to jail for this?? Because they cheated at college sports?? Come on ...

Wire fraud, mail fraud, conspiracy, bribery....just what do you think people go to jail for????????

There might not be much left of Under Armor left to prosecute at the rate they're going.

https://www.fool.com/investing/2017/09/0...-down.aspx



Kevin Durant just talking on a podcast dropped their stock 3%. Ouch.

(10-04-2017 04:19 PM)georgia_tech_swagger Wrote:  Kevin Durant just talking on a podcast dropped their stock 3%. Ouch.

That supports the theory that Nike paid Durant more to join the Warriors because they wanted to offset any benefit that UA got from having Curry...

(09-29-2017 09:21 AM)ken d Wrote:  Among the underlying crimes required to use this statue (you must be guilty of at least two of them, if I read it correctly) are bribery, fraud and money laundering.

Penalties include forfeiture of all profits made from the illegal activities. That could be construed to be all those companies' profits, if exerting influence over collegiate sports is shown to be an important part of the companies' marketing strategies.

The CEOs of the companies could be charged even if you can't prove they engaged in the activities directly, but rather through a subordinate (like a senior VP, who we could liken to a mafia capo for this purpose).

What were the crimes alleged by the FBI again?

Yes, and I'll take what's behind door number 3 where the lovely Carol Merrill is standing please! So let's make a deal.

The Feds won't go after punishments that cost stockholders and employees of major corporations. That's bad for the bottom line and the political fallout would create great ill will.

But charging the CEO's would be an effective deterrent and would be publicized enough to meet the requirement of a pound of flesh. Besides, Congress has an appetite for CEO's so if the FBI goes in that direction they are more likely to get an attaboy for their efforts.