Sep 7, 2012, 6:29 PM EDT
According to the Associated Press, former Duke forward Lance Thomas is being sued for not paying an outstanding balance on nearly $100,000 worth of custom jewelry he purchased back in 2009 from a New York-based jeweler.
Where does college basketball come into play for the current New Orleans Hornet? The date of purchase (December 21, 2009; Duke beat Gonzaga 76-41 at Madison Square Garden on the 19th of that month), which lands square in the middle of his senior season at Duke.
The Blue Devils went on to win the national title that season, beating Butler 61-59 in the championship game.
According to the report Thomas dropped a $30,000 down payment for five pieces of diamond jewelry that cost a total of $97,800, and the suit was filed back in January in Austin, Texas.
At the time the suit was filed Thomas was a member of the Austin Toros of the NBA D-League.
The firm, Rafaello & Co., caters to celebrities and professional athletes and approved Thomas for a $67,800 line of credit that remains unpaid.
One question from a compliance standpoint isn’t the fact that Thomas made the purchase but rather where that $30,000 came from.
[Rafaello & Co. attorney Mike] Bowers said he’s seen no evidence that anyone other than Thomas was involved in the transaction and he doesn’t know why the Duke player was extended credit for most of the purchase.
“It was a clean, clear-cut transaction between Mr. Thomas and my client, and I don’t see anything that warrants me asking anything beyond that,” Bowers said. “Speaking hypothetically, if he came in on a bicycle with tattered jeans, I doubt seriously he would have been sold jewelry, but I’m not drawing conclusions. The terms here are clear.”
If Thomas received the money from a relative or a person the NCAA terms as an “established family friend” then there’s no issue with the $30,000.
Rule 184.108.40.206 reads as follows:
A student-athlete may receive a loan from an established family friend without such arrangement constituting an extra benefit, provided: [R] (Adopted: 1/11/94)
- (a) The loan is not offered to the student-athlete based in any degree on his or her athletics ability or reputation;
- (b) The individual providing the loan is not considered a representative of the institution’s athletics interests; and
- (c) The relationship between the individual providing the loan and the student-athlete existed prior to the initiation of the student-athlete’s recruitment by the member institution.
As for the remaining $67,800 the question there is whether or not the loan was provided with Thomas’ future earnings as a professional being considered, which is against NCAA rules.
...it would be if he received $67,800 credit based on expected future basketball earnings. NCAA prohibits that. Going to be interesting—
Dan Wetzel (@DanWetzel) September 07, 2012
Duke associate athletic director for media relations Jon Jackson informed the AP that the school was aware of the lawsuit and was looking into the matter.
Apr 24, 2014, 11:13 PM EDT
Boise State announced Wednesday that two players were leaving the program. Thursday, one of those players stated that he was forced out.
Apr 24, 2014, 9:47 PM EDT
Maryland’s Dez Wells and Xavier settled a lawsuit filed by Wells with regards to his expulsion from the school in 2012.
Apr 24, 2014, 8:23 PM EDT
After spending two seasons at Maryland, big man Shaquille Cleare has decided to transfer to Texas.
Apr 24, 2014, 7:14 PM EDT
UNLV junior forward Khem Birch has decided to enter the 2014 NBA Draft.
Apr 24, 2014, 5:56 PM EDT
After averaging 12.5 points per game as a sophomore, San Francisco guard Avry Holmes has decided to transfer.
Apr 24, 2014, 4:49 PM EDT
Arizona State lands its seventh newcomer for the 2014-15 season as forward Willie Atwood picked the Sun Devils over Florida State and Iowa.
Apr 24, 2014, 4:13 PM EDT
The NCAA’s Board of Directors released some key decisions on Thursday.
Apr 24, 2014, 4:12 PM EDT
Colorado junior guard Spencer Dinwiddie has decided to enter the 2014 NBA Draft.
Apr 24, 2014, 3:12 PM EDT
Dan D’Antoni spent 30 years as a high school coach in South Carolina.
Apr 24, 2014, 2:23 PM EDT
Parker is not a fan of forcing players to stay in school for two years.
Apr 24, 2014, 1:45 PM EDT
There are reports he’s already signed with an agent.
Apr 24, 2014, 12:35 PM EDT
The seven-footer will miss some time getting a torn labrum repaired.
Apr 24, 2014, 11:56 AM EDT
Roy Williams is not the world’s greatest dancer.
Apr 24, 2014, 11:25 AM EDT
Kentucky, Kansas and just about every elite program in the country is on the trail of the Haitian.
Apr 24, 2014, 10:39 AM EDT
It’s pretty funnyl
Apr 24, 2014, 12:57 AM EDT
According to multiple reports, former Georgetown big Moses Ayegba has decided to transfer to Nebraska.
Apr 24, 2014, 12:17 AM EDT
According to a report, UConn center Amida Brimah will need to undergo surgery on his left shoulder.
Apr 23, 2014, 10:38 PM EDT
Shaka Smart filled a vacancy on his staff Wednesday, hiring former Vanderbilt assistant David Cason.
Apr 23, 2014, 9:04 PM EDT
Less than a week after making an official visit to the school, it was reported that Malek Harris had committed to Kansas State. But that may not be the case.
Apr 23, 2014, 7:49 PM EDT
Frank Haith announced his coaching staff Wednesday, with the trio combining to have more than 90 seasons of coaching experience.
- Jabari Parker on a potential move to two-and-done: ‘I think that’s ridiculous’ 5
- John Calipari appears on ‘The Colbert Report’ (VIDEO) 1
- Auburn will not appeal Bruce Pearl’s show-cause penalty 3
- Kentucky freshman Julius Randle entering NBA Draft 0
- ACC’s league schedule highlights the flaws of massive power conferences 4
- Report: Tennessee hires Southern Miss coach Donnie Tyndall 1
- Rice transfer Sean Obi commits to Duke 1
- Adam Silver says raising NBA’s age limit a top priority (7)
- Former Marquette commits Ahmed Hill, Satchel Pierce follow Buzz Williams to Virginia Tech (7)
- Indiana grabs commitment from prep school center (VIDEO) (6)
- Harrison twins awaiting feedback from NBA before deciding to return or declare (6)
- Jabari Parker on a potential move to two-and-done: ‘I think that’s ridiculous’ (5)