A number of coaches who lost money in David Salinas' alleged Ponzi scheme will meet at 1 p.m. PT on Sunday at a downtown Las Vegas hotel with a legal team that represents the National Association of Basketball Coaches, multiple sources said Saturday.
According to sources, the purpose of the meeting is to centralize the coaches' issues in an attempt to make their case for the return of money lost through the Salinas' alleged scheme. The meeting will also address coaches' concerns about any perceived NCAA issues that have arisen during the course of the public disclosure of the scheme.
A group of the coaches who lost money with Salinas told ESPN.com over the past week that they never looked to get players from Salinas' Houston Select AAU team in exchange for investing with him. But they also said they understand how that perception was created since he was an AAU program owner. A few coaches said in hindsight it wasn't the best idea to invest with him based on the perception. Still, they are adamant that their issues are only dealing with lost bond funds and nothing else.
Salinas, who was found dead of a self-inflicted gunshot wound on Sunday at his home in Friendswood, Texas, was the apparent target of an investigation by the U.S. Securities and Exchange Commission into whether he orchestrated a multi-million dollar fraud scheme and swindled investors. Sources say Salinas had a wide net of clients, from basketball and football coaches to university endowments to churches in the Houston-area and was heavily involved with The University of Houston and Rice University.
Salinas, 60, was on the board of directors of a nonprofit foundation that raises funds for Houston's athletic programs. He donated a total of $202,069 to Houston athletics between 2000 and 2010, the school told the Houston Chronicle on Thursday.
Houston-area media outlets reported Thursday that Houston found no compliance issues related to Salinas following an internal review.
In a statement, Houston athletic director Mack Rhoades said an internal review conducted by the school determined there were no NCAA compliance issues in relation to Salinas and his Houston Select AAU program. The university also said it has not been contacted by the NCAA.
Texas Tech coach Billy Gillispie, Baylor's Scott Drew, former Arizona coach Lute Olson, Nebraska coach Doc Sadler, Texas A&M-Corpus Christi coach Willis Wilson, Gonzaga coach Mark Few and Gonzaga assistant and former Utah coach Ray Giacoletti are among coaches who lost money by investing in Salinas' alleged scheme. A number of other men's basketball coaches who have not been publicly identified were also investing with Salinas.
Former Houston coach Tom Penders told ESPN.com that he received a call. But Penders said he couldn't produce any evidence of players being funneled for money.
Penders, who declined to invest with Salinas, acknowledged that Salinas was part of a group that tried to oust him at Houston prior to his departure a year ago.
"(Salinas' death) is something that none of his friends could have expected," Olson said in a statement Wednesday. "Yes, I've invested with David and he's been a friend for a while, but I did not invest money until after I had retired from coaching."
Arizona had one player -- Juwann McClellan -- who played for Houston Select before attending the university.
Salinas first was introduced to college coaches as possible investors in 1988 when he befriended the Rice coaching staff while his son Chris was playing youth basketball. Then-Rice coach Scott Thompson and assistant Grey Giovanine were the first to invest with him in the late 1980s before introducing him as a trusted friend to other coaches at subsequent Final Fours. Giacoletti also invested through Salinas in the late 1980s.
Andy Katz is a senior college basketball writer for ESPN.com.