Statement from SEC Commissioner Greg Sankey

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“The allegations announced by federal authorities on Tuesday are disturbing and, if true, reveal alarming activities within the sport of basketball. The depth of the problem remains to be seen but clearly there is indication of behavior that must be corrected for the health of basketball and the integrity of college athletics. The alleged activities are detrimental to the sport, are unfair to the many individuals who do it the right way and undermine the trust of the fans who support their programs. I find encouragement, however, in the federal government’s willingness to utilize the powerful tools at its unique disposal to hold responsible parties accountable.”