Another day, another revelation is being revealed in this Penn State sex scandal. This time it involves long time coach Joe Paterno, who is affectionately known around town as Joe Pa.
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Well it seems that Joe Paterno may have have known more than what he’s led us to believe so far, and that his coaching downfall was right around the corner according to some recent real estate transactions that he was apart of.
Joe Paterno’s recent real estate transaction, reported by Mark Viera and Pete Thamel of the New York Times, has led to speculation that he knew his time at Penn State was about to end. The winningest coach in major college football history transferred complete ownership of his house to his wife for just $1. This all took place less than four months before this sex scandal arrived on the scene.
Many legal experts believe that this was an obvious move to financially shield JoePa.
The Times uncovered documents that show Paterno, who had joint possession of the home, handed control of his residence over to his wife, Sue Paterno, for a dollar plus “love and affection.”
JoePa’s home was originally purchased for $58,000 in 1969; the home’s fair-market value in 2011 was listed at $594,484.40.
Paterno isn’t facing any criminal charges at this time, but it is widely believed that he will face some type of civil charges from some of the victims in the future at some point.
Paterno is also in line for an annual pension of more than $500,000 a year after spending more than 60 years in the Pennsylvania system.