(Bloomberg) -- A Pittsburgh money manager named Louis Martin Blazer was an undercover informant and cooperator throughout a long-running investigation of bribery and corruption in U.S. college basketball, according to two people familiar with the case.
Blazer, identified throughout the court papers as CW-1, settled a U.S. Securities and Exchange Commission civil enforcement lawsuit last year. He was accused of taking $2.4 million from investment clients through his firm which catered to professional athletes.
Blazer has also pleaded guilty to securities fraud for investing money into music and movie ventures on behalf of five athlete clients, without their authorization.
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Blazer was at several meetings in which business and financial advisers sought to arrange bribes to coaches to secure the eventual services of their student-athletes.
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--With assistance from Bob Van Voris
To contact the reporters on this story: Christian Berthelsen in New York at cberthelsen1@bloomberg.net, Matt Robinson in New York at mrobinson55@bloomberg.net.
To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Joe Schneider
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