USC assistant men's basketball coach Tony Bland was arrested by federal agents and charged on Tuesday with conspiracy to commit bribery and fraud. He was one of 10 people arrested as part of an FBI investigation of alleged corruption in college basketball.

USC Vice President for Athletic Compliance Mike Blanton said Tuesday afternoon that USC athletics was unaware of the FBI investigation and has placed Bland on immediate administrative leave.

"USC places the highest priority on athletic compliance and is taking this situation very seriously," Blanton said in a statement. "Accordingly, we have hired former FBI director Louis J. Freeh, and his firm, Freeh Group International Solutions, to work with us in conducting an internal investigation into this matter so that we can take action quickly and appropriately."

"We reached out proactively to both the NCAA and FBI to pledge our full cooperation and to learn more details. Everyone associated with the program will cooperate fully with these investigations and will assist authorities as needed," he wrote.

USC Athletic Director Lynn Swann also released a statement, saying in part: "We will cooperate fully with the investigation and will assist authorities as needed, and if these allegations are true, will take the needed actions."

According to federal prosecutors, Bland faces up to 80 years in prison.