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Kevin Garnett, who was traded to the Boston Celtics of Minnesota Timberwolves in 2007, sued an accountant for allegedly helping a wealth manager steal $ 77 million from the NBA star.
(Associated Press)
Retired NBA player Kevin Garnett claims in a lawsuit that his accounting firm has helped a wealth manager currently imprisoned to steal $ 77 million.
The former stars of Minnesota Timberwolves, Brooklyn Nets and Boston Celtics claim that Michael Wertheim and Welenken CPL have allowed Charles Banks IV of Atlanta to defraud him for several years through shared companies, reported FOX9 Minneapolis .
"Banks have intentionally and continuously looted Garnett for his profits and assets for many years, including the many years that Welenken and Wertheim provided accounting services to Garnett and his business interests," the lawsuit says.
The lawsuit states that Wertheim "possessed real knowledge" that Banks stole millions from Garnett and "did nothing about it".
Defense attorney Greg Simpson told Star Tribune in Minneapolis that his clients denied any wrongdoing and would defend themselves "vigorously."
FOX9, citing the lawsuit, reported that since Banks had already been sentenced to the federal prison for defeating, certainly, Tim Duncan of San Antonio Spurs, he would not be accused in this affair.
Once Garnett's legal counsel had access to the Kentucky-based accounting records, they determined that the NBA's 15-star funds were still running out after Banks' conviction, the Tribune reported. citing the lawsuit.
Wertheim also "worked in concert" with Banks to pay Garnett compensation, which would involve financial hardship, and set budgets that the NBA's all-time prime employer had to follow, it said. According to Business Insider, Garnett retired after earning $ 326 million over the course of his career.
In June, Ashley Danyelle Phelps, Garnett's sister, was arrested after trying to steal two check cashing stores. Phelps was charged with two armed robberies, two bomb warnings and an attempted robbery.
In 1995, Garnett became the first NBA player in 20 years to be recruited directly into high school. He retired as a Timberwolves member in 2016.
Associated Press contributed to this report.
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