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New Article on FBI Probe...
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[QUOTE="UConnJim, post: 2581623, member: 1559"] I'm pretty sure there is no federal law against paying players, but they violate NCAA rules. But there are laws about individuals reporting income if they have been gifted by someone >$14,000 in a given year and there are laws about giving people >$14,000 in a given year and not reporting it. There are also laws about companies bribing people and about misreporting uses of company funds. So, if a coach told a sneaker company to pay a kid, and the sneaker company did, I don't think the coach committed a crime, but he committed an NCAA violation. If the kid declared the payment as income and paid tax on it, I don't think he has committed a crime, but he committed an NCAA violation. I even think if the sneaker company paid a kid and reported the payment to the IRS, I don't think a crime was committed. If the kids and/or their handlers who got payments were smart, they would get a tax lawyer or tax accountant and pay income taxes on the payment. You can modify past returns, but may have to pay a penalty. Then, they committed no crime. When they are caught, they are going to have to pay income tax on it anyway, so at least take the crime part out of the equation. [/QUOTE]
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