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 18.104.22.168 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.
Sep 4, 2015, 6:39 PM EDT
Seventh Woods removed one more team from consideration.
Sep 4, 2015, 5:19 PM EDT
Rico Gathers averaged a double-double last season.
Sep 4, 2015, 4:03 PM EDT
Washington sat out all of last season due to a lingering foot injury.
Sep 4, 2015, 3:21 PM EDT
Mike Krzyzewski will be taking a national title team to the Oval Office for the fifth time in his career.
Sep 4, 2015, 2:13 PM EDT
It was reported in late July that Felton was listening to other schools.
Sep 4, 2015, 12:39 PM EDT
Devin Davis has since enrolled at Odessa JC in Texas.
Sep 4, 2015, 9:40 AM EDT
Greenwood is the second former college basketball player to sign with an AFL franchise in the last week.
Sep 3, 2015, 9:05 PM EDT
The Bulldogs are guaranteed games against five NCAA tournament teams and could play more based upon what happens in the Battle 4 Atlantis.
Sep 3, 2015, 7:56 PM EDT
Virginia is trying to figure out the academic situation of Mamadi Diakite, who might enroll in 2015.
Sep 3, 2015, 6:51 PM EDT
This comes less than a month after AD Norwood Teague stepped down for his own alleged sexual misconduct.
Sep 3, 2015, 5:22 PM EDT
Joe Struggs, who didn’t enroll until last month, has been dealing with issues with both of his shins.
Sep 3, 2015, 4:15 PM EDT
This year’s Terrapins will look to match what Dixon, Steve Blake and company accomplished just over 13 years ago.
Sep 3, 2015, 3:30 PM EDT
Jalen Johnson is one of the best in-game dunkers in the Class of 2016.
Sep 3, 2015, 1:20 PM EDT
The Atlantic 10 released its full conference schedule. The league has 33 games on NBCSN this season.
Sep 3, 2015, 12:00 PM EDT
Michigan State saw the newly-renovated practice facility when they arrived back from a trip to Italy.
Sep 3, 2015, 9:15 AM EDT
Josh Jackson won back-to-back MVP awards at the Under Armour Elite 24.
Sep 2, 2015, 10:05 PM EDT
With two seniors in their current front court, adding a big man helps North Carolina moving forward.
Sep 2, 2015, 8:00 PM EDT
Mullin threw out the first pitch at a Yankees game back in late-May.
Sep 2, 2015, 6:15 PM EDT
The men’s basketball freshmen will meet in New York City September 12 & 13.
Sep 2, 2015, 5:00 PM EDT
The ACC is loaded this year, which will make for a fun conference schedule.
- Jalen Rose planning a book about the Fab Five 2
- Wisconsin’s Bo Ryan makes another statement wavering on potential retirement 0
- Cody Zeller, Indiana president speak out against recent athlete legal issues 0
- Five-star 2016 combo guard cuts list to four 0
- Xavier, Mount St. Joseph to launch the ‘Lauren Hill Tip-Off Classic’ 1
- Tai Wynyard: ‘I will be coming to UK in December’ 0
- Tom Izzo, 30 second shot clocks, and why zone presses will be more popular this year 1
- Jalen Rose planning a book about the Fab Five (2)
- ACC releases its full conference schedule (2)
- Throwback Thursday: Juan Dixon and company win Maryland’s lone national title (2)
- Indiana head coach Tom Crean laments team’s lack of leadership (1)
- Former Butler forward Andrew Smith fighting cancer for second time (1)