Tim Duncan’s former financial adviser, Charles Banks, has been sentenced to four years in prison and ordered to pay the
retired NBA player $7.5 in restitution.
Back in 2015, Duncan sued Banks for defrauding of him more than $20 million in bad investments. Banks, 49, pleaded guilty to one count of wire fraud earlier this year.
According to SB Nation, Banks also admitted to conning the San Antonio Spurs legend into giving him a multi-million dollar loan to be used as an investment.
Duncan isn’t hurting for cash though. Bloomberg noted that he’s made an estimated $220 million in salary throughout his career.
Duncan has said that he’ll never put himself in that situation again after getting screwed over.
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