Watch US attorney announce charges of fraud and corruption in college basketball

FBI: Adidas Honcho Paid Fortune to Funnel Top Players ... to NCAA Programs

Report: FBI arrests assistant basketball coaches in corruption scheme

Is the Louisville basketball program in danger?

In Pitino's case, call it three stripes (the Adidas logo, get it?) and you're out. 'Hopefully, whatever we do as a unit, as a union and as a fraternity, we do it. Everyone has to take a part in to doing something.

The coaches are Lamont Evans, an assistant at Oklahoma State University, Emanuel Richardson, an assistant for the Arizona Wildcats, and Chuck Person, associate head coach at Auburn University. "As alleged, NCAA Division I and AAU coaches created a pay-to-play culture, agreeing to provide access to their most valuable players while also effectively exerting their influence over them".

In all, 10 people were charged in New York City federal court, including managers, financial advisers, and sportswear company representatives.

The U.S. Attorney's Office began its investigation into Person and Rashad Michel, a former NBA and NCAA basketball official whose "clothing company has a client base that consists primarily of professional athletes", according to the complaint.

In the complaint, sports agent Christian Dawkins reportedly tells other defendants that Adidas' executives agreed to secure a specific amount of the company's funding to convince a player to attend a certain Adidas-sponsored college. Gatto's lawyer did not immediately respond to an email request for comment. "The coach, who is not named, acknowledged that his school was on probation at the time and said, 'we gotta be very low key", according to court documents.

The Baltimore Sun last year reported that Nike was the clear leader in the 2016 NCAA men's basketball tournament, providing uniforms for 41 entrants.

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Pitino has survived two scandals at Louisville.

The press conference will be livestreamed on the office's Facebook page.

NEW: Several defendants are accused of facilitating payments to a high school player in order for him to play at University of Louisville. "Any violations will not be tolerated", he said. I thought what the NFL is doing right now is beautiful. "We're unaware of any misconduct and will fully cooperate with authorities to understand more".

Person is facing six charges, including bribery conspiracy, solicitation of bribes and gratuities, conspiracy to commit honest services fraud, wire fraud, conspiracy to commit wire fraud and travel act conspiracy.

This fallout from this news is just beginning.

The schemes included bribes paid to high school athletes to secure their commitment to play for a particular university, prosecutors said.

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