USC athletic director, Lynn Swann says he was "shocked" to find out about the arrest of asst. basketball coach, Tony Bland ... but the University vows to "cooperate fully" with authorities.  

"We were shocked to learn this morning through news reports about the FBI investigation and arrests related to NCAA basketball programs, including the arrest of USC assistant Tony Bland," Swann said in a statement.

"USC Athletics maintains the highest standards in athletic compliance across all of our programs and does not tolerate misconduct in any way."

"We will cooperate fully with the investigation and will assist authorities as needed, and if these allegations are true, will take the needed actions."

As we previously reported, Bland was arrested as part of an FBI sting focusing on bribery and corruption in college basketball.