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Filed under: Ponzi Schemer with Connections to Big 12 Coaches Found Dead

"‘A lot of coaches got (expletive),' said one college coach."'s Gary Parrish and Jeff Goodman quietly dropped a bomb on the basketball world last night. I suggest reading the whole post, but here's a quick recap. David Salinas was the founder of a Houston summer basketball program and an investment advisor for many college basketball coaches, including Texas Tech's Billy Gillispie and Baylor's Scott Drew. According to reports, some of the coaches had upwards of seven figures invested with Salinas, who was found dead. 

Goodman tweeted this morning that he "just spoke to a coroner in Galveston; [the coroner] said autopsy hasn't been performed yet on David Salinas."

Adding to the drama, Kentucky Sports Radio's Matt Jones tweeted a Houston radio show host claims that Gillispie was one of the last to see Salinas alive and "was angry" in his office last week. 

Apparently, Salinas was running a Ponzi scheme that involved many of college basketball's top coaches. While the story came out rather quietly (a blog post, really?), and didn't receive a lot of initial interest (minus The Bylaw Blogand Dan Wolken), I have a feeling this is far from over. 

"One of the coaches involved called late Sunday and offered comment. He asked that his name not be used but said, ‘We're not concerned about the NCAA right now. We're just scared we got Madoffed.'"

Needless to say, we'll have more as this story develops.