After turning himself over last year for charges that were filed against him by Tim Duncan, Charles Banks is now scheduled to plead guilty to a multi-million dollar fraud case.
The San Antonio Spurs legend was apparently a victim his former financial adviser, who mishandled over $25 million of his own money, that he eventually lost throughout the past years. The paperwork has already been submitted to court, making them aware of the 49-year-old's intention to admit to the charges filed by Duncan.
Banks was indicted last year following the case filed against him where the five-time NBA champion claimed he made him sign about $6 million in loans related to a merchandising business, without him being aware of it. He is scheduled to appear in a federal court, according to the Associated Press via USA Today Sports, in San Antonio on Monday, where he will face imprisonment of up to 20 years depending on the judge's decision.
“Banks was indicted last year on two counts of wire fraud, with each count carrying a possible 20-year prison sentence.”
“He is scheduled to appear Monday in federal court in San Antonio.”
The Big Fundamental retired at the end of last season after playing 19 years in the league. He won almost all the awards the NBA has to offer, highlighted by his MVP trophies from 2002 and 2003. Duncan became a well-respected player around the league for the way he played as he allowed his game to speak for himself and remained humble all the time.
Follow Us
Subscribe