This story is a bit different from the PSU case, as there isn't a Grand Jury involved and at this point its just to people making claims. However, having said that I really wouldn't be surprised if it were true, as it seems these sorts of a great deal of men from that generation tended to do these sorts of things and keep it in the closet.
This story won't reach the level of PSU because as compared to Paterno Boeheim doesn't seem to have been involved. Also, Boeheim isn't portrayed and doesn't present himself as an icon of high moral value. Granted, he's a HOF coach, but he's held no where near the same regard as Paterno. Either way Boeheim shouldn't have denied it happening, because it is certainly possible.
I say we wait for the facts.