Feds now investigating Reggie Bush! (1 Viewer)

[kevthegrad]

http://www.profootballtalk.com/rumormill.htm

Profootballtalk.com is reporting this....take it for what it's worth but just wondering if this starts to impact where Bush gets drafted in dynasty leagues

 

[Patoons]

CBS is also reporting

 

[NoFBinLA]

They are investigating THE FIRM that tried to recruit him. Not Bush.

Saints | FBI to investigate firm that tried to recruit R. Bush

Wed, 31 May 2006 16:43:51 -0700

Bernie Wilson, of the Associated Press, reports the FBI has opened an investigation into a fledgling San Diego sports marketing firm that tried to recruit New Orleans Saints rookie RB Reggie Bush. Attorney David Cornwell of Atlanta said FBI agents interviewed him about "potential federal crimes" last week by phone. Cornwell said he intends to make Bush and his parents available to the FBI. "The issue with the FBI is similar to the NCAA. I want to balance the cooperation with the FBI against my needs to protect my client's interest with regard to threatened litigation," Cornwell said.

(edited to add this is off KFFL)

edited also to add -- we start worrying when something actually happens.

 

[kevthegrad]

They are investigating THE FIRM that tried to recruit him. Not Bush.

Saints | FBI to investigate firm that tried to recruit R. Bush

Wed, 31 May 2006 16:43:51 -0700

Bernie Wilson, of the Associated Press, reports the FBI has opened an investigation into a fledgling San Diego sports marketing firm that tried to recruit New Orleans Saints rookie RB Reggie Bush. Attorney David Cornwell of Atlanta said FBI agents interviewed him about "potential federal crimes" last week by phone. Cornwell said he intends to make Bush and his parents available to the FBI. "The issue with the FBI is similar to the NCAA. I want to balance the cooperation with the FBI against my needs to protect my client's interest with regard to threatened litigation," Cornwell said.

(edited to add this is off KFFL)

edited also to add -- we start worrying when something actually happens.

So what you're saying is "Thank you for breaking the biggest story of the year" and to you I say "you are welcome".

 

[MBL12PK]

Link

POSTED 10:48 p.m. EDT; UPDATED 11:59 p.m. EDT, May 31, 2006

BUSHES TO FACE TAX EVASION CHARGES?

We've been racking our brains for the past several hours in an effort to discern the potential federal charges that could be pursued against Saints running back Reggie Bush and/or his family as a result of allegations that they received benefits in violation of NCAA rules at a time when Bush was otherwise eligible to play college football.

And then it hit us, like a big board with a rusty nail in it.

Tax evasion.

There's nothing illegal about a college football player getting paid by private citizens who might be interested in representing the player when the time comes to get paid by a pro football team -- as long as the kid getting the benefits declares the benefits as income and pays the corresponding tax.

In this case, rumors and reports have been rampant regarding the magnitude of the money that has been transferred to Reggie Bush and/or his family. New Era Sports & Entertainment alleges that it paid to the Bushes $100,000, and that Reggie's parents lived in a house owned by New Era principal Michael Michaels without paying $54,000 in rent.

There are also whispers of other payments to the Bushes that have come from other sources.

In the end, that might be one of the reasons for the FBI's desire to talk to Reggie and his parents, despite lawyer David Cornwell's suggestion to Bernie Wilson of the AP that the feds are interested in the conduct of New Era.

With that said, let's be clear on this. We're not "reporting" that the feds are planning to claim that the Bushes received payments from prospective agents and failed to pay taxes on the income. There's no evidence that the FBI is even targeting Reggie and/or his family at this point.

But given the reports that have surfaced to date, would anyone be surprised to eventually learn that: (1) the Bushes got paid; and (2) it didn't occur to them that Uncle Sam should get a cut of it?

Indeed, Al Capone ultimately was brought down by tax evasion charges, as explained by the FBI on its own web site.

Though it's possible that the FBI's primary motivation in opening an investigation is to explore whether Michaels or anyone else connected to New Era committed extortion in connection with efforts to settle the agency's threatened legal claims against the Bush family, the feds aren't going to pick and choose. Every potential violation of the law will be explored and, if justified, prosecuted.

As to the viability of an extortion charge against New Era and/or its representatives, we've previously explained that there's nothing wrong with a lawyer demanding payment of money in an attempt to resolve a dispute before filing suit. In this case, however, we were troubled by one of the letters sent by New Era lawyer Brian Watkins, in which he raises the possible involvement of USC in the settlement discussions. Since New Era has no apparent claim against USC, Watkins' efforts could be viewed as an attempt to extract hush money from the Trojans in order to avoid the negative publicity that would result (or, as the case may be, has resulted) if (or, as the case may be, when) the caa-caa hits the Cuisinart.

We don't know how all of this will turn out, but we're certain of one thing. The FBI will get to the truth. It's possible that the FBI already knows most if not all of the truth, and that the "investigation" is merely an effort to determine whether one or more of the relevant parties might be inclined to lie to a federal officer.

Martha Stewart can explain the downside.

Moreover, the FBI's work will in turn make it far easier for the NCAA and the Pac-10 to continue their investigation into the matter, since the Bushes have to date stonewalled in order to minimize their potential liability to New Era. Now, lawyer David Cornwell says that they'll gladly talk to the feds.

Dave, you'd better think this one through. If your clients have gotten payments in the past and if they haven't declared the money as income, it's time to shift the limo into damage control mode -- which undoubtedly will require them to come clean and pay the back taxes, with interest and penalties. (Unlike most folks charged with tax evasion, the Bushes can pay the bill without taking out seven mortgages.)

Sure, an admission that payments were received prior to December 2005 would cost Reggie his Heisman. But giving up one piece of hardware is far better than banging out the number "5" on many more thin, rectangular metal plates for the next 12-to-36 months.

 

[popeye]

We don't.

 

[faulkfan]

The best way for the government to get its money is to let Reggie sign and play football so I can't see this impacting his work on the field.

 

[P Boy]

The best way for the government to get its money is to let Reggie sign and play football so I can't see this impacting his work on the field.

LOL! So your solution to anyone who commits any felony and owes compensation is no penalty & just to let them keep working?Now that's an interesting thought...

 

[P Boy]

Nope, no character issues with Bush - that's for sure.

 

[NoFBinLA]

They are investigating THE FIRM that tried to recruit him.  Not Bush.

Saints | FBI to investigate firm that tried to recruit R. Bush

Wed, 31 May 2006 16:43:51 -0700

Bernie Wilson, of the Associated Press, reports the FBI has opened an investigation into a fledgling San Diego sports marketing firm that tried to recruit New Orleans Saints rookie RB Reggie Bush. Attorney David Cornwell of Atlanta said FBI agents interviewed him about "potential federal crimes" last week by phone. Cornwell said he intends to make Bush and his parents available to the FBI. "The issue with the FBI is similar to the NCAA. I want to balance the cooperation with the FBI against my needs to protect my client's interest with regard to threatened litigation," Cornwell said.

(edited to add this is off KFFL)

edited also to add -- we start worrying when something actually happens.

So what you're saying is "Thank you for breaking the biggest story of the year" and to you I say "you are welcome".

If by 'biggest story of the year' you mean 'biggest story of the year about nothing that has actually happened with alot of assumptions in it, and really is not really more than opinion' -- well then 'no problem'.As for the tax evasion thing -- now that's just trying to hard. Come on guys. Tax evasion? And compared to Al Capone and Martha Stewart? You think they Feds have this kinda time on their hands? Hmmm.... which is more likely - investigating a company for alleged blackmailing or investigating 'tax evasion' by some random football players family. And by the way, the IRS would be investigating that first, I believe. Not the FBI. I could be wrong.

I mean, he's no saint (pun unintended) and I'm not about to act all shocked if we find out he violated NCAA rules but this whole thing sounds alot like wishful thinking.

And why anybody would wish jail time on some kid they don't even know is beyond me.

 

[jurb26]

Nope, no character issues with Bush - that's for sure.

This horse still breathing?

 

[Traders2001]

I love it.

 

[kevthegrad]

They are investigating THE FIRM that tried to recruit him.  Not Bush.

Saints | FBI to investigate firm that tried to recruit R. Bush

Wed, 31 May 2006 16:43:51 -0700

Bernie Wilson, of the Associated Press, reports the FBI has opened an investigation into a fledgling San Diego sports marketing firm that tried to recruit New Orleans Saints rookie RB Reggie Bush. Attorney David Cornwell of Atlanta said FBI agents interviewed him about "potential federal crimes" last week by phone. Cornwell said he intends to make Bush and his parents available to the FBI. "The issue with the FBI is similar to the NCAA. I want to balance the cooperation with the FBI against my needs to protect my client's interest with regard to threatened litigation," Cornwell said.

(edited to add this is off KFFL)

edited also to add -- we start worrying when something actually happens.

So what you're saying is "Thank you for breaking the biggest story of the year" and to you I say "you are welcome".

If by 'biggest story of the year' you mean 'biggest story of the year about nothing that has actually happened with alot of assumptions in it, and really is not really more than opinion' -- well then 'no problem'....

I was joking you stammering Mo Mo.

 

[P Boy]

I was joking you stammering Mo Mo.

Did he just call someone a Mo Mo?I guess I'm out of touch, but is that being excellent to one another or not? I don't know which side of the fence Mo Mo falls on.

 

[softball]

The best way for the government to get its money is to let Reggie sign and play football so I can't see this impacting his work on the field.

LOL! So your solution to anyone who commits any felony and owes compensation is no penalty & just to let them keep working?Now that's an interesting thought...

Taking money and the Heisman should make someone look bad? Really?Reggie is a good guy, he's in New Orleans helping already!



It's a suprise when they DON'T have charachter issues these days.....

 

[kevthegrad]

Did he just call someone a Mo Mo?

I guess I'm out of touch, but is that being excellent to one another or not? I don't know which side of the fence Mo Mo falls on.

Frankly the 'stammering' part is a lot more antagonistic than the "Mo Mo" part.

 

[psychobillies]

I was joking you stammering Mo Mo.

Did he just call someone a Mo Mo?I guess I'm out of touch, but is that being excellent to one another or not? I don't know which side of the fence Mo Mo falls on.

Mo Mo is OK. It's the "stammering" part that was out of line IMO.

 

[psychobillies]

Did he just call someone a Mo Mo?

I guess I'm out of touch, but is that being excellent to one another or not? I don't know which side of the fence Mo Mo falls on.

Frankly the 'stammering' part is a lot more antagonistic than the "Mo Mo" part.

Great minds...

 

[Kiddnets]

Gotta wonder if the Texans knew this was commin down the pike.

They get a stud DL in Mario - No hold out - no legal problems - no jersey number nonsense - much quieter off season.

 

[crnerblitz]

And why anybody would wish jail time on some kid they don't even know is beyond me.

Well, I dont wish jail time on anyone that hasn't commited a felony. However I pay my fair and honest share of taxes each year. Unfortunatly everyone else does not. The shortfall of what the Government spends and what it collects can only be made up by those honest people actually paying the bills.

Do I wish jailtime on him, no. Is he above the law because he is an athlete No.

Please, lets not insult my intelligence by proclaiming that college football players are not paid by boosters, alum or many other 'friends' of the program'.

Kevin McBride

 

[Seymour Corn]

Jeremy once made a necklace of bones from all the ribs he's eaten.

 

[Bri]

Jeremy once made a necklace of bones from all the ribs he's eaten.

thanks quincy

 

[Seymour Corn]

Jeremy would like to eat George Takei, but he's scared.