IN BRIEF : 4 Sports Agents Indicted on Fraud
Four Florida sports agents have been indicted on fraud and conspiracy charges after allegedly paying athletes at the University of Florida to sign professional contracts and then lie about it.
The four, all officers of Professional Athletes Financial Advisors Inc. in Hollywood, Fla., surrendered Monday after being charged in a 90-page federal grand jury indictment with 20 counts of conspiracy, racketeering, mail fraud and wire fraud. The U.S. Drug Enforcement Administration began investigating the agents during a yearlong probe into possible cocaine use by Florida athletes.
The indictment accuses the agents of giving seven players “large amounts of cash, monthly wire transfers of funds, interest-free loans, hotel accommodations, airline tickets, payments to family members” and other gifts to induce them to break NCAA rules by signing contracts before their eligibility expired.
The indicted agents are the firm’s president, Gerald Gratenstein, vice presidents Greg Latimer and John Kasbar, and secretary Glenn Haft.
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