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“He talked about all these coaches that he had investing with him,” the former University of Houston coach told The Daily last night. “I told him because he was an AAU guy, I couldn’t possibly get involved in that. I said, ‘I think that’s kind of a rules violation, or could be.’ ” Penders, now retired, told The Daily that Salinas solicited him for a $100,000 investment in their first meeting and “made a strong, strong implication” that it would help Houston gain access to prospects that were part of the Houston Select, an AAU program that Salinas founded.
“Whatever they said I did, I didn’t do,” Nee said. He called Salinas “a good friend.” “It’s a sad loss,” Nee said.
Why did we report that?
Because a source provided us with a brochure from Select Asset Management, LLC -- another Houston-area investment firm that's run by Houston Select co-founder Brian Bjork and is associated with J. David Financial Group. The brochure features a "testimonial" from Nee, now the head coach at the United States Merchant Marine Academy. The testimonial reads: "I have been a client with J. David Financial Group since I was referred to them in 1995-96. After several financial planning sessions, I became very comfortable with their long-term visions and investment style. More importantly, I marvel at their track record in both up and down markets."
In other words, we stand by our report.