OT: LSU is in some deep doo-doo

What else is there for the rest of the athletic dept? Like you said, way too much to wade through on the rant

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.@TheLakeHealth audit findings on Funes allegations: $810K lost "due to fraudulent activity." "The forensic investigation also revealed two questionable issues that warranted we notify legal counsel for LSU." #lalege #lsu #lagov

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The work by the independent third-party firm has confirmed that Mr. Funes acted alone and was the only member of the organization involved. Over several years, he orchestrated a series of fraudulent transactions that involved the purchase and distribution of gift cards, charter flights and payments to individuals, including forged documents, invoices and signatures. He misled hundreds of people in and outside of our organization.

The forensic investigation also revealed two questionable issues that warranted we notify legal counsel for LSU. Since we are not involved and the outcome does not impact our operations, we will not have any further details or comments on this issue.

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Grab ya popcorn, this should be fun lol

Couldn’t happen to a better bunch of A holes

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The FBI is also involved.

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And he is on tape admitting to trying to buy at least one player. LSU basketball is about to get the mushroom head and all 9 inches to follow from the NCAA.

They are not the only ones who are going to be caught up in all of this, the FBI is doing the NCAA's investigative work for them, it won't be until the FBI has finished their part that you see the NCAA begin to hand out their punishment, IMO.

Several of these schools are fricked in the sense that the women's secondary sports that no one cares about who were giving scholarships or "recruiting" these kids (which not only fast tracked but eased their admittance to said schools) opens the entire program up to the lack of institutional control tag.

I do not believe the NCAA can get by with slaps on the wrist when people are actually going to jail over this. In Wade's case would the NCAA offer a 5 year show cause instead of 10 for evidence of who else was making a strong arse offer to a "2-3 year guy"?

Which bring up the larger problem that has been the elephant in the room for basketball as a whole with the street agents, AAU cesspool, etc, role players are demanding and receiving payments to attend schools. Is it any wonder why the transfer rate is so high in basketball? These guys are handed money like the "stars", are told to fill a role, don't like it, so they go to the other guys who made offers for their services after a year or two thinking they will be a star there.

For the NBA fans, the reason why the league has fallen in popularity and the product as whole diminishing to the point of sponsors being on uniforms like some third rate mexican soccer league is from the crappy product resulting from the lack of skill, development and "readiness" from guys leaving after 1-2 years from college instead of the elite leaving after 3, the good being 4 year players.

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DaleDenton

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This has nothing to do with Will Wade's situation.

This has to do with new revelations that came out today about the entire athletic department at LSU being under investigation for funneling money through a local hospital that is supposed to be helping kids with cancer. Instead, the donations are lining the pockets of athletes all over Baton Rouge.

Wade is on tape and removed from the team for paying a player.

Do you think these coaches use their own money for these payments?

If it can be proven the hospital is being used as a front to launder money and systematically pay players, you are talking about a system on par with SMU football in the 80s, but on a larger scale covering the entire institution.

The scale of which would could not only see LSU experience death penalty in several sports, but could lead to the justification of LSU being expelled from the SEC.

On an even larger scale the NCAA would have to act with a punishment equaling the crime or they themselves could stand to lose their power as the sanctioning body of college athletics.

You can say it has nothing to do with Will Wade's situation, but I would argue the allegations would have never arise if not for Will Wade's situation.

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You can say it has nothing to do with Will Wade's situation, but I would argue the allegations would have never arise if not for Will Wade's situation.

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The prosecuting attorney in the Baton Rouge area is the one who was brought in on this by the local nuns at the hospital after it was discovered there was money missing.

On the surface, the two situations are not related to one another.

I see the point you're trying to make though.

From reading on about all of this, it seems this spans across multiple sports at LSU(football, baseball, basketball). There may not be a head coach left standing after all of this on the bayou.

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The prosecuting attorney in the Baton Rouge area is the one who was brought in on this by the local nuns at the hospital after it was discovered there was money missing.

On the surface, the two situations are not related to one another.

I see the point you're trying to make though.

From reading on about all of this, it seems this spans across multiple sports at LSU(football, baseball, basketball). There may not be a head coach left standing after all of this on the bayou.

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I doubt the connection to LSU would have been made or allowed to be made if not for the current situation LSU Basketball has with the FBI.

I mean if you are going to steal money from kids with cancer to give to kids to play sports at LSU, are you really the type to take LSU down with you or are you willing to try to plead out to embezzlement of funds, pay a fine, and spend a couple years in medium security prison in an effort to shield LSU?

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I doubt the connection to LSU would have been made or allowed to be made if not for the current situation LSU Basketball has with the FBI.

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Supposedly it was and the guy was fired a while back. It has since come out about the missing funds.

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I mean if you are going to steal money from kids with cancer to give to kids to play sports at LSU, are you really the type to take LSU down with you or are you willing to try to plead out to embezzlement of funds, pay a fine, and spend a couple years in medium security prison in an effort to shield LSU?

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The guy is going to roll.

Think about the entire picture here...This did not just start. It has been going on for a while. We are talking about tax breaks(federal) for the donors who knew where there money was going. IF they truly investigate this, it isn't just about one person. It is about a whole boat load of persons. All receiving tax breaks each year for donations, yet they were gifts to players. They have already linked some of the money to shopping cards and things of that nature.

It seems like this is something that will make the 80's SMU stuff look like small fries.

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Our Lady of the Lake's full statement can be found below.

“Working with a leading independent third-party financial audit firm, we have recently completed a comprehensive evaluation of fraudulent activities committed by Mr. John Paul Funes and the safeguards we have in place to protect our ministry and the funds we raise through our Foundation.

We’ve identified approximately $810,000 lost due to fraudulent activity committed by Mr. Funes, former president of the Foundation. We will complete replacement of those funds within the next 30 days and will seek restitution from Mr. Funes.

The work by the independent third-party firm has confirmed that Mr. Funes acted alone and was the only member of the organization involved. Over several years, he orchestrated a series of fraudulent transactions that involved the purchase and distribution of gift cards, charter flights and payments to individuals, including forged documents, invoices and signatures. He misled hundreds of people in and outside of our organization.

The forensic investigation also revealed two questionable issues that warranted we notify legal counsel for LSU. Since we are not involved and the outcome does not impact our operations, we will not have any further details or comments on this issue.

Although no system is foolproof, we will do everything we can to ensure this doesn’t happen again. Our donors’ contributions are safe and being used with integrity and responsible purpose. The work we’ve done with the third-party audit has given us a clear roadmap to address the vulnerabilities Mr. Funes exposed. We’ve already begun immediate changes including additional approvals for expenditures and more oversight on adherence to our policies and processes.

We continue to cooperate with law enforcement. We remain shocked and appalled by Mr. Funes’ fraudulent activities and are truly sorry for the harm that he has caused our community.”

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