Clyde Austin

Clyde Edward Austin (November 1, 1957 – August 16, 2025) was an American basketball player. He played college basketball for the NC State Wolfpack and was a second round pick by the Philadelphia 76ers in the 1980 NBA draft. Austin spent eight years with the Harlem Globetrotters. After his retirement from playing, he was involved in the United States Basketball League (USBL) as the head coach of the Carolina Cardinals and founded the Raleigh Cougars. Austin worked as a pastor until he was imprisoned for his involvement in running a pyramid scheme that swindled money from investors including his seminar attendees.

Early life Austin was raised in Jackson Ward in Richmond, Virginia, in a family of 13 children. He frequently witnessed his mother receive beatings from his stepfather. When Austin was 15, his stepfather shot his mother in the head and left her unable to walk or talk.

As a teenager, Austin sold pills on the streets of Richmond until his high school coach found out and encouraged him to stop. He is considered one of the area's greatest high school basketball players. He then joined the Harlem Globetrotters for eight years. Austin also had an ownership interest in the team. Austin attempted to sell the Cougars during the 1999 offseason but was unsuccessful and ceased active involvement with the team.

Legal troubles In 1998, Austin's company, Bankers International Trust, was sued by the North Carolina Attorney General for running a pyramid scheme. Austin moved to Nevada and filed for bankruptcy.

In 2004, Austin was sentenced to 17 years in prison for running a national pyramid scheme in which he stole $16 million from his investors between 1996 and 2000. He swindled the money while serving as a pastor and convinced his victims, including seminar attendees, to invest their money in bonds, overseas trading, real estate and the marketing of products including herbs and weight-loss aids.

Personal life and death Two of Austin's sons played college basketball: Clyde "Eddie" Austin Jr. played at Doane University and Clyde "Trey" Austin played at Wentworth Military Academy and College. His death was caused by a blood clot that was left behind from a recent knee surgery which traveled to his lungs and triggered a heart attack.

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