Jeffrey David, the former chief revenue officer of the Sacramento Kings, is suspected of being the mastermind behind a money-laundering scheme that stole over $13.4 million from Golden 1 Credit Union and Kaiser Permanente Foundation that was meant to go to the team, according to Sam Stanton and Darrell Smith Of The Sacramento Bee. Golden 1 holds the naming rights to the Kings' new arena.
David allegedly used this money to purchase beachfront property in Southern California.
Since being terminated from his position in Sacramento in June, David has accepted the same position with the Miami Heat in July. The Kings reported this crime to federal investigators last week, but no criminal charges have been filed. David could not be reached for comment on the subject.
“Last week, we alerted federal law enforcement to suspicious financial transactions involving a former Kings employee, Jeff David,” the team said. “That investigation is underway and on Monday, U.S. Department of Justice authorities began the formal process of recovering and seizing the properties involved in the investigation.
“We appreciate the swift action on behalf of the officials at the FBI and U.S. Attorney for the Eastern District of California McGregor Scott as they work to complete this investigation and we will take all appropriate action once it is complete.”
David has been working in NBA front offices since 2006 and has experience with Major League Soccer and professional beach volleyball as well. The Heat are fully aware of the investigation and have placed David on leave for now.
Heat statement from that story: "We are aware of the investigation of Jeff David, which focuses on events that took place prior to his joining our team. We are fully cooperating with the authorities. Jeff David is on leave, pending the outcome of the investigation.” https://t.co/4XjFFU029W
— Ira Winderman (@IraHeatBeat) August 30, 2018
The Heat will wait for the smoke to clear before they take any further actions.
Follow Us
Subscribe