Federal enforcement authorities are playing full-court press against some of the biggest names in the world of college basketball, scoring federal criminal charges last week in a massive fraud and corruption scheme that threatens to rock the compliance world at large and could be one of the largest compliance crises to face American collegiate sports.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...