Is the NBA Draft Rigged? A Look at Ernst & Young’s Troubling Track Record

When it comes to the odds of winning the NBA draft, the Dallas Mavericks faced daunting statistics: they had only a 1.8% chance of securing the coveted #1 pick. In numerical terms, that equates to roughly 1 in 55. While this outcome is not out of the realm of possibility, it’s certainly not a straightforward win.

At the heart of the draft lottery process is the Accounting firm Ernst & Young (EY). Recent events have raised eyebrows not only about the draft’s integrity but also about the reliability of those overseeing the process. Over the past five years, Ernst & Young has become infamous for a series of high-profile blunders that have cast doubt on their competence.

Here’s a brief overview of EY’s most notable missteps:

• Wirecard (2020): Ernst & Young approved financial statements that indicated €1.9 billion in cash was available, a figure that, it turned out, simply didn’t exist.

• Luckin Coffee (2020): The firm overlooked significant discrepancies, missing $300 million in fraudulent revenue, which led to a massive corporate scandal.

• CPA Ethics Exam Scandal (2022): In a shocking revelation, EY was caught cheating on internal ethics examinations and subsequently misled the SEC about the incident, resulting in a hefty $100 million fine.

• Brooge Energy (2024): Investors launched a lawsuit against EY, claiming that the firm either ignored or overlooked blatant revenue inflation ranging from 30% to 80%.

• Italy (2024): In a further display of wrongdoing, the Italian offices of EY were raided amid allegations of bid rigging related to contracts with the European Union.

In light of these controversies, one has to wonder: what’s more improbable? The Dallas Mavericks pulling off an unlikely victory in the draft lottery, or Ernst & Young finding itself embroiled in another audit-related scandal? With such a shaky history, skepticism about the integrity of the draft—and those who manage it—seems not just warranted, but necessary.