Federal investigators examining the intersection of big-time college basketball and lucrative contracts with fashion companies led to charges of fraud and corruption against 10 people, including an executive at Adidas.
The FBI and the U.S. Attorney for the Southern District of New York will hold a press conference at noon to discuss the case.
“Federal criminal charges have been brought against 10 people, including four college basketball coaches, as well as managers, financial advisers, and representatives of a major international sportswear company,” the U.S. attorney’s office said.
The case includes accusations against James Gatto, who works at Adidas.
The complaint against Gatto includes a scheme to bribe high school basketball players to get them to commit to play at certain universities, where officials could help steer the players to develop relations with what the paperwork describes as the “global athletic apparel company.”