So it is my opinion that the worst case scenario for Joe Newman would eventually be a white collar crime issue. Could Joe Newman be the Bernie Madoff of professional (well rec league basketball.. that they call professional) basketball? Here is the PBL's press release.
CHICAGO: After years of dodge and delay, the American Basketball Association (ABA) and its principal owners, Joseph Newman and Richard D Tinkham, Jr., will be called to account and required to pay the piper. In this case, the "piper" is the ABA Judgment Enforcement Company, LLC (ABA Judgment Enforcement Company). Effective immediately, the rights to enforce a judgment (Judgment) for accounting entered in Marion County, Indiana Circuit Court) have been assigned to ABA Judgment Enforcement Company, an entity controlled by Premier Basketball League, Inc. (PBL). ABA Judgment Enforcement Company has instructed its attorneys to aggressively enforce its rights and remedies under the Judgment against the ABA, Joseph Newman and Richard D. Tinkham, Jr., and all others acting in concert with them.
The Judgment was entered in July 2007, declaring that ABA, Newman and Tinkham violated the law and the terms of their ownership agreement, causing damage. They are required to account to the owners of the judgment for all funds .....
http://www.oursportscentral.com/service ... id=3887318