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LEXINGTON, Ky. — Former college basketball guard Kerr Kriisa was arrested by FBI agents on the evening of July 3 in connection with a multimillion-dollar fraud scheme allegedly dating back to his time at West Virginia University, Kentucky Sports Radio first reported Saturday, sending shockwaves through college basketball circles and immediately ending the 25-year-old’s participation in an upcoming summer tournament.

The Fayette County Detention Center in Lexington confirmed to WKYT that Kriisa is being held in their facility following the arrest. Because the case is federal in nature, jail officials declined to release details of the specific charges or circumstances of his arrest. No bail has been set, and a court hearing was scheduled for the coming week in West Virginia, where Kriisa is being extradited according to the initial reporting from KSR’s Jack Pilgrim.

The allegations stem from Kriisa’s time with the West Virginia Mountaineers during the 2023-24 season, according to On3, which described the case as involving a multimillion-dollar fraud scheme without providing specific details about the nature of the alleged misconduct. Federal charging documents had not been made public as of the time of initial reporting, leaving significant questions about the scope and specific allegations at the center of the investigation unanswered.

The arrest carries particular resonance given Kriisa’s profile within the college basketball transfer portal era. Born in Estonia, Kriisa built his college career across four programs and six years, accumulating 127 appearances and starting 106 of those games across stints at the University of Arizona, West Virginia, the University of Kentucky and the University of Cincinnati. He averaged 8.8 points per game across his career and was, at various points, one of the more recognizable names in the transfer portal, having moved through successive programs while trying to maximize his final years of eligibility.

He began playing professional basketball in Europe at the age of 15 and committed to Arizona in 2020 following stints in Lithuania and Germany. His three seasons at Arizona showed consistent scoring improvement, and he started 70 of 76 career games with the Wildcats while becoming a key playmaking piece for the program under head coach Tommy Lloyd. He averaged nearly 10 points per game across his final two seasons in Tucson before transferring to West Virginia for the 2023-24 academic year.

His West Virginia season was simultaneously his most statistically productive and his most complicated. Kriisa started all 23 games he played for the Mountaineers and posted a career-high 11.0 points per game alongside 4.7 assists before suffering a season-ending hand injury. However, the season also included a nine-game suspension handed down by the NCAA for receiving what it classified as impermissible benefits during his time at Arizona, a violation that followed him into his West Virginia season and temporarily sidelined him early in the Mountaineers’ conference schedule. The suspension at the time attracted attention but was treated as an isolated compliance issue rather than a signal of anything more serious.

After West Virginia, Kriisa transferred to Kentucky for the 2024-25 season, where he appeared in nine games for John Calipari’s successor as head coach before a foot injury ended his season. The brief Kentucky appearance was nonetheless notable: he recorded a career-high 12 assists in a game against Bucknell and reached the 1,000 career points milestone in a game against Gonzaga, personal benchmarks achieved against the backdrop of a frustratingly short season. He then transferred to Cincinnati for his final year of eligibility, where he appeared in 19 games and averaged 5.8 points and 3.0 assists per game.

Most recently, Kriisa had been playing professional basketball in his native Estonia, and he had been announced as a participant for La Familia, the Kentucky-affiliated team competing in The Basketball Tournament, the annual summer bracket event broadcast on national television that draws alumni groups from major college basketball programs. Within hours of the arrest being reported, La Familia issued a statement on social media removing Kriisa from the tournament roster.

“We’re aware of the allegations regarding Kerr Kriisa. Kerr will not be competing with La Familia during the TBT Tournament. We will have no further comment,” La Familia said in their statement.

The FBI did not issue a public statement confirming the arrest or specifying charges as of Saturday afternoon. Kriisa’s attorney, if one has been retained, had not been publicly identified at the time of initial reporting. The FBI’s involvement, combined with the extradition to West Virginia and the federal nature of the case, suggests the alleged fraud scheme, whatever its specific contours, was investigated at the federal rather than state level, a designation typically reserved for cases involving wire fraud, bank fraud, securities fraud or other offenses with a federal jurisdictional hook.

The arrest adds another significant chapter to a college athletics landscape that has been grappling with increased scrutiny of the Name, Image and Likeness era and the financial arrangements that have accompanied the transfer portal’s explosion in activity since 2021. While the specific allegations against Kriisa have not been formally charged in public documents, the timing, linked to his 2023-24 season at West Virginia, places the alleged conduct squarely within the period when NIL collectives and pay-for-play arrangements were proliferating rapidly across college sports.

The case is expected to move forward with a federal court hearing in West Virginia in the coming week, at which point charging documents may become publicly available and provide the first clear picture of exactly what federal investigators allege Kriisa did and who else may be connected to the purported scheme. Until then, Kriisa remains held in Lexington without bail, awaiting extradition proceedings as the college basketball world follows developments in one of the most striking off-court stories of the summer offseason.

A new Federal Reserve working paper found the record surge in illegal immigration during the Biden administration triggered higher home prices and rents.

The findings arrive as immigration remains a polarizing political issue. Republicans argue former President Joe Biden’s border policies strained housing and public resources, while Democrats say immigration helped ease labor shortages and supported economic growth.

THE KEY STRATEGY RED STATES ARE USING TO LOWER HOUSING COSTS REVEALED

A “for sale” sign is posted outside a single family home for sale on Aug. 22, 2025, in Pasadena, California. (Mario Tama/Getty Images)

The paper, published by the Federal Reserve Bank of Dallas, combines immigration court records with government administrative data to measure how the unprecedented wave of illegal immigration between 2021 and 2024 affected local labor and housing markets.

The authors caution the study is a preliminary draft circulated for professional comment and does not necessarily reflect the views of the Federal Reserve Bank of Dallas or the Federal Reserve System.

Researchers found the influx of illegal immigrants boosted employment with little measurable effect on wages but significantly increased housing demand.

ONE TYPE OF PROPERTY IS QUIETLY SAVING AMERICANS THOUSANDS OF DOLLARS

President Joe Biden walks along a stretch of the U.S.-Mexico border in El Paso, Texas, on Jan. 8, 2023. (AP Newsroom)

A 1% increase in unauthorized workers relative to a local labor force corresponded with roughly a 1% increase in overall employment, with no evidence the immigration surge reduced average wages. The same 1% increase, however, was associated with a roughly 2.2% rise in home prices and a 1.4% increase in rents. Researchers found little evidence that homebuilding expanded enough to meet the added demand, concluding the influx acted as a housing demand shock in markets where supply was already constrained.

The economists estimate unauthorized immigrant worker flows accounted for about 30% of employment growth, roughly 30% of home-price growth, and about 20% of rent growth in the average metropolitan area between March 2021 and March 2024. 

They stress these estimates apply to the average metro area studied and do not suggest immigration was the sole driver of rising housing costs nationwide.

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Contractors raise a framed wall in Folsom, California, on March 6, 2025. (David Paul Morris/Bloomberg via Getty Images)

The paper describes 2021 through 2024 as an “unprecedented boom” in illegal immigration. 

Citing Congressional Budget Office estimates, the authors said net unauthorized immigration added roughly 7 million people to the U.S. population before slowing sharply in mid-2024.

EasyJet has reached an agreement in principle with a US investment firm over a potential takeover offer worth around £5.2 billion.

The low-cost Luton-based airline had previously rejected four takeover offers from Castlelake, which owns a stake of about 2.14% in EasyJet through the funds it manages.

It said those offers had been worth £6.50, £5.60, £6 and £6.25 a share, and has previously accused Castlelake of trying to buy it “on the cheap”.

On Sunday EasyJet’s board of directors and Castlelake said they had reached an agreement in principle on a proposal put forward on 4 July, worth £6.90 per share.

This does not mean a deal has been confirmed. Castlelake now needs to get regulatory clearances and the approvals required for the transaction to go ahead.

One significant regulatory hurdle is that EasyJet is a European company, so by EU rules it needs to be 51% owned by a European company.

Castlelake is a US firm, although it has previously outlined how it would endeavour to comply with this rule.

It has until 17:00 BST on 3 August to either to announce a firm intention to make an offer or to say it does not intend to do so.

If an offer is made it would need to be put to a shareholder vote.

EasyJet’s board on Sunday said the financial terms of the proposed offer “are at a value that the Board would be minded to recommend to easyJet shareholders”, should a firm offer be made.

EasyJet is one of Europe’s largest airlines. It employs more than 19,000 people, and flies around 1,200 routes across 35 European countries.

It has previously said its share price had been “temporarily depressed” – partly due to the impact of the US-Israel war with Iran on the travel sector.

EasyJet shares closed on Friday at £5.58 each. Before news of the first bid emerged in June, EasyJet’s stock had fallen by more than 30% in the past year.

Castlelake has assets under management worth $36bn (£27.3bn).

Announcing the agreement in principle, EasyJet said Castlelake had “emphasised its tremendous respect for easyJet and its people, along with its intention to support its future growth and transformation to a stronger, more resilient European airline”.

Joseph and Alana Shir want to be homeowners. The question is, when is the right time to make that move?

The couple, both in their early 30s, have been living with Alana’s mother near Fort Lauderdale, Fla., for the past three years. They know they are fortunate, living in a nicer area than they could afford on one income.

Joseph Shir works as an analyst for the federal government, making about $112,000 a year. He also earns about $10,000 teaching a course online. Alana Shir is home full time with their 1-year-old daughter, Jessa. The couple hopes to have another child at some point.