Concerning Jumaine Jones two contracts, i found the following on eurobasket.com about a similar case for another player
Mersin Buyuksehir Belediyespor of Turkey who has announced the signing of James Peters (204-F-81, college: UNLV) shocked with the news from American power forward. James Peters who has played for Fort Wayne Mad Ants of D-League last year informed the club that he has signed for a South Korean team and will not come to Turkey. Despite the legal, signed contract, players act has created huge anger on Mersin side. Club officials said, due to FIBA transfer rules, no player can sign with two clubs at the same time as they've a valid contract for 2008-2009 season and any club who wants to sign with James Peters should talk with them. Mersin will apply to FIBA with the signed official contract of James Peters. Due to the rules, player and his agent migh be banned for up to two years because of the act.
If that is true, than it will be serious trouble for Jones and his agent Miroslav Ilic