Ekpe Udoh, Cartier Martin Caught in Investment Scam

by July 27, 2011

Along with several college coaches and athletic administrators, Ekpe Udoh and Cartier Martin both lost quite a bit of money in the ponzi scheme swindle by AAU operator David Salinas (who recently committed suicide.) SI reports: “The dollar figure following each name is the most recent valuation of their particular at-risk investment, which was purported to be in corporate bonds. Two NBA players, 2010 Warriors lottery pick Ekpe Udoh ($350,000) and former Wizards swingman Cartier Martin ($374,000), were confirmed to be clients by SI. So was one former athletic director and NCAA selection committee member, Rudy Davalos ($83,000). The investment of 13 college basketball coaches alone, meanwhile, is valued at nearly $8 million. The total amount of money in the bonds, whose very existence remains in doubt, is an estimated $55 million, none of which has been recovered. Besides what is listed below, SI has also learned Salinas has numerous other sports-related clients — college basketball coaches included — whose names are not yet public, and whose money is not believed to be at risk in this particular case.”