Obscure Con Man Steals Spotlight as Informant in Hoops Probe
NEW YORK (AP) — Con man Louis Martin "Marty" Blazer III is obscure no more after shaking college basketball to its core working as a U.S. government undercover operative.
The one-time Pittsburgh financial adviser who wanted to attract deep-pocketed athletes for his firm was revealed as the man who arranged meetings and taped conversations with 10 people charged in the probe, including four college coaches.
Blazer pleaded guilty this month to fraud charges in a deal with prosecutors that could win him leniency because of his cooperation since late 2013.
He cooperated after the Securities and Exchange Commission caught him cheating clients of over $2 million to invest in two low-budget movies and a country music venture.
He revealed he'd been paying bribes to secure deals with college basketball players since 2000.