Merrill Lynch adviser at center of Oklahoma hoops investigation

Big trouble for Tiny Gallon? The Oklahoma athletic department is said to be looking into allegations that the Sooners' star basketball player received money from a financial adviser
JUN 11, 2010
Oklahoma's athletic department has opened an investigation following reports that basketball player Tiny Gallon received money from a Florida financial adviser. Spokesman Kenny Mossman confirmed in an e-mail to The Associated Press last night that Oklahoma is "investigating matters that the public may be aware of through recent reports in the media." He did not provide specific information about the investigation. TMZ.com reported earlier this month that Gallon received a $3,000 bank transfer from financial adviser Jeffrey Hausinger. The internal investigation was first reported by the Tulsa World, which received notification that the university could not respond to an open records request about the case because of the ongoing investigation. (View Mr. Hausinger's Finra Broker Check report.) The school did not respond to a similar records request filed by The Associated Press earlier this month. A call to the records office after business hours Wednesday went unanswered. Oklahoma remains on probation for major NCAA rules violations committed by its football and men's basketball programs in recent years. The football violations involved football players, including starting quarterback Rhett Bomar, receiving pay for work they did not perform at a Norman car dealership. The basketball violations stemmed from hundreds of impermissible recruiting phone calls made by former coach Kelvin Sampson. Gallon was suspended for undisclosed reasons for Oklahoma's game at Oklahoma State in mid-February but returned to play the remainder of the Sooners' games. The former McDonald's All-American appeared in each of Oklahoma's other 30 games this season and started 21 times, averaging 10.3 points and a team-high 7.9 rebounds. Since the end of the season, Oklahoma has lost two other players. Point guard Tommy Mason-Griffin, also a former McDonald's All-American, decided to turn pro after his freshman season and reserve guard Ray Willis opted to transfer. The university has declined requests to interview coach Jeff Capel.

Latest News

Advisor moves: LPL recruitment momentum continues with $815M Northwestern Mutual team
Advisor moves: LPL recruitment momentum continues with $815M Northwestern Mutual team

Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.

SEC chief Atkins signals caution on prediction market ETFs amid broader rethink of novel fund structures
SEC chief Atkins signals caution on prediction market ETFs amid broader rethink of novel fund structures

Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.

Private capital's $1 trillion bet on the American retirement account
Private capital's $1 trillion bet on the American retirement account

From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.

Advisor moves: Wells Fargo Advisors pulls in $9.6b in fresh talent during first half of May
Advisor moves: Wells Fargo Advisors pulls in $9.6b in fresh talent during first half of May

Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.

Why uncertainty is making behavioral coaching more valuable than ever
Why uncertainty is making behavioral coaching more valuable than ever

Markets have always been unpredictable. What has changed is the amount of information investors are trying to process and the growing role advisors play in helping clients avoid emotional decisions

SPONSORED Are hedge funds the missing ingredient?

Wellington explores how multi strategy hedge funds may enhance diversification

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management