Home > Sports > Did Paterno Know Sex Abuse Scandal Was Going Public? Real Estate Transaction Suggests He Did

Did Paterno Know Sex Abuse Scandal Was Going Public? Real Estate Transaction Suggests He Did

November 16, 2011 Leave a comment Go to comments

Joe Paterno sacrificed his job and quite likely his legacy when the whole Penn State child abuse scandal came to light.  But did the coach protect himself from greater liability before the hammer dropped?  He just might have.

A report has come out saying that Paterno transferred ownership of his house over to his wife earlier this summer for a mere $1.  Why?  Legal folks disagree.

One of Paterno’s lawyers claims it is part of a “multi-year estate planning program” and had nothing to do with the recent scandal.  Others (including myself) aren’t so sure.

According to University of Pittsburgh Lawrence Frolik (who is quoted in the report), there are no tax advantages to transferring ownership.

“If someone told me that, my reaction would be, ‘Are they hoping to shield assets in case if there’s personal liability?'” He added, “It sounds like an attempt to avoid personal liability in having assets in his wife’s name.”

My thoughts exactly.  Did Paterno know that this whole scandal was about to break and did what he could to protect himself from the fallout?  I doubt we’ll get anything more than a categorical denial but this one sounds a little fishy to me.

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  1. November 16, 2011 at 1:45 pm

    wow! my exact thought as well. another example of him knowing he didn’t do the right thing. and, if your suspicion (and everyone else’s is correct), that means that he is still deliberately weaseling out of doing the right thing by getting rid of any assets that might be used for helping those kids and their families. he didn’t sacrifice his job, he wrecked it. i’m still digesting jerry sandusky saying all he did was take a shower with some kids and touch their legs a little. he admitted he might have been a little inappropriate but that was it. wtf???

  2. November 16, 2011 at 3:03 pm

    Hmmmmmm, does make a person wonder.

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