" The harm that I will suffer from an immediate suspension can never be undone, and I will never have this opportunity to further my collegiate career or fulfill my lifelong dream to play in the NBA."
Very much not true and to the extent he loses money by not being a lottery pick, his grievance should be with the NBA's collusive collective bargaining agreement and to a lesser extent the victim and the State of Kansas. I fully encourage him to fight the system, but UIUC is his friend, not his enemy, and its hands are tied.
I have concerns about the advice he's getting if they advised him this was a good idea. He needs to keep his ass out of jail before he talks about the lottery.