Ex-Financial Adviser Guilty of Defrauding Tim Duncan

[BillMc]

Another career win for #21

http://nba.nbcsports.com/2017/04/03/ex-financial-adviser-guilty-of-defrauding-tim-duncan/?ocid=Yahoo&partner=ya5nbcs&yptr=yahoo


SAN ANTONIO (AP) — An ex-financial adviser to retired San Antonio Spurs star Tim Duncan has pleaded guilty in a multimillion-dollar fraud case (http://nba.nbcsports.com/2016/09/09/report-financial-advisor-tim-duncan-sued-to-be-indicted-in-texas/) and faces up to 20 years in prison.Federal prosecutors say 49-year-old Charles Banks of Atlanta pleaded guilty Monday in San Antonio to one count of wire fraud.

Investigators say Banks manipulated Duncan – identified in court documents as “T.D.” -into guaranteeing payment of a $6 million debt related to a merchandising business. Prosecutors say Banks failed to disclose commissions and loans he received in the deal.

Duncan previously sued Banks (http://nba.nbcsports.com/2015/11/09/nba-star-duncan-says-ex-financial-adviser-cost-him-millions/) over what he alleged were more than $25 million in failed investments.

Banks remains free on bond pending sentencing. He could be ordered to make restitution to Duncan, who retired last year after five NBA championships with the Spurs.

[spurs1990]

Picture of the perp for those wondering - courtesy of SF Chronicle

http://ww4.hdnux.com/photos/51/53/12/10924727/11/920x1240.jpg

[Ed Helicopter Jones]

Probably a half-hearted win. Tim will probably consider himself fortunate if he sees 20% of that money again.

[Ed Helicopter Jones]

I'm glad the dude got convicted though....azzhole.

[BillMc]

Picture of the perp for those wondering - courtesy of SF Chronicle

http://ww4.hdnux.com/photos/51/53/12/10924727/11/920x1240.jpg

Thanks. :toast

Probably a half-hearted win. Tim will probably consider himself fortunate if he sees 20% of that money again.


I'm glad the dude got convicted though....azzhole.

All true.

[james evans]

When athletes try to do the right thing with their cash, bullshit like this happens. It happens more often than not. Felix Trinidad was swindled out of $60 million after retirement.

[YGWHI]

When athletes try to do the right thing with their cash, bullshit like this happens. It happens more often than not. Felix Trinidad was swindled out of $60 million after retirement.

Sad but true.

[Horse]

Fucking piece of shit

[cd98]

This guy screwed Duncan more than Amy.

[DieHardSpursFan1537]

Glad the dirtbag is going away. Pure scum!