Tag:Anthony Mason
Posted on: July 28, 2011 10:12 pm
 

Ex-NBA player jailed for basketball team fraud

Posted by Ben Golliverjay-vincent

In the 20 years since Jay Vincent completed his NBA career -- which included stops with the Dallas Mavericks, Washington Bullets, Denver Nuggets, San Antonio Spurs, Philadelphia 76ers and Los Angeles Lakers -- he has managed to run into an ocean's worth of hot water.

This time, though, he's being sent to jail for running a scam involving the same game that earned him more than $1 million as a professional.

In 2010, Vincent pleaded guilty to bilking unsuspecting victims out of millions of dollars in an online scam that involved a fake company to carry out home inspections.

Unfortunately, StateNews.com reports that Vincent is allegedly continuing fraudulent activity by -- get this -- charging people to try out for a fake basketball team and was jailed this week for his actions.
At the same time as the inspection company operated, according to court documents, Vincent owned Pro Basketball Co. Vincent now runs a similar business called USA ProBasketBall Co. Vincent said the company holds tryouts to find players, puts together traveling exhibition teams and finds sponsors for the teams.

Prosecutors believe Vincent placed ads this year in several newspapers - including two with the Dayton Daily News and one with a paper in Monroe - promoting the tryouts.

Vincent charged participants a "tryout" fee that at one point was $85. According to court documents, one man was notified he made the team after a tryout in Monroe and Vincent instructed the man to send $275 and to expect a contract. The man became suspicious and didn't pay, but others did, the documents say.

It seems like just yesterday I was writing about former NBA players and their financial failures after their careers were over. Oh, wait, it was just yesterday when the state of Wisconsin started shaming its top delinquent taxpayers on its website, a list that included former Milwaukee Bucks players Latrell Sprewell and Anthony Mason. 

If there's a positive spin on this ugly story, it's that the NBA has worked hard to establish the Rookie Transition Program, an all-encompassing, mandatory educational session that provides tips to incoming NBA players on how to manage their money, conduct themselves professionally, and the like. Oh, shucks.  Never mind. The NBA has postponed the Rookie Transition Program to an undetermined date because of the league's ongoing lockout.

Well, then, there is no positive spin here. Just an ugly story.
Posted on: July 27, 2011 7:59 pm
 

Wisconsin shames NBA players over tax debts

Posted by Ben Golliversprewell-mason

This is the type of Power Rankings list you don't want to be on.

Two former members of the Milwaukee Bucks -- guard Latrell Sprewell and forward Anthony Mason -- are listed on the state of Wisconsin's Department of Revenue website's list of top 100 delinquent taxpayers

Sprewell leads the entire state in unpaid taxes -- in the amount of $3,533,426.49 -- while Mason checks in at the No. 3 spot, owing $2.070,061.26.

Sprewell played for the Bucks in the 2003-2004 and 2004-2005 seasons but is also a native of Wisconsin. Mason, better known as a member of the New York Knicks, played for the Bucks in 2001-2002 and 2002-2003.

TheBigLead.com notes that these tax debts, while enormous, represent just a fraction of each player's career earnings.
According to one site, Mason was paid about $16 million with the Bucks over four years, and his career NBA salary totaled about $45 million. Sprewell made in the ballpark of $97 million on the basketball court in his career.
 Clearly, the point of this list is to shame its members into stepping up and paying what they owe. Applying a little public pressure is a no-lose and no-cost tactic for the state. But is it actually effective? Who knows.

But imagine if every state with an NBA franchise followed suit. How many former NBA players would find their way on to a similar list? 50? 100? 200?

Wisconsin, one would imagine, is one of the cheaper places for an NBA player to work and live. In states like New York and California, where the cost of living -- and the cost of living large -- is significantly greater, I'd expect to see even more former NBA players on this type of list. 

Whether Wisconsin ever receives its money or not, Sprewell and Mason become two more cautionary tales for current NBA players at a time when financial management is at center stage during the ongoing lockout. The NBPA should send out a link to the Top 100 list to its members with the subject line: "What not to do."  
 
 
 
 
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