The Justice Department announced charges of fraud and corruption this afternoon against ten people in connection with two wide-ranging but connected bribery schemes at top college basketball programs.
What happened: The first scheme included coaches at USC, Oklahoma State, Auburn, and Arizona allegedly taking bribes from financial advisors and managers to then direct their athletes to use the services of those consultants. The second involved Adidas executives funneling money — often hundreds of thousands of dollars — to basketball recruits and their families to play at two Adidas-sponsored schools, the University of Louisville and the University of Miami.
