By Marcus Shockley
It’s almost become synonymous with boosters involved in big time financial advisers who work with sports clients that there is a possibility that they are running a Ponzi scheme, which will eventually crash and take down a lot of people in the process. This isn’t entirely reality, but it does bring us back to the point we made last week that players need to develop their off-the-court life skills.
One myth that I see in high school and college basketball is that there are big pools of money floating around, even for unknown players. While there is money being thrown around in some circles, you have to realize that one of the telltale signs to a scam is someone flashing a lot of money and “lifestyle”. Someone who flashes diamond rings or Rolex watches and tells you he wants to help you manage your money is a guy to stay away from.
But this case strikes a harsh blow into the Miami program, whose football program was trying to find it’s way back to serious prominence. The evidence in this case is significant, with money being paid by players and the guy who was paying them now in jail.