Retired Minnesota Timberwolves and Boston Celtics NBA player, Kevin Garnett, is suing his former accountant for purportedly helping a wealth manager steal $77 million from his coffers.
Wealth manager Charles A. Banks IV, last year, was sentenced to four years in prison for defrauding former NBA player, San Antonio Spur, Tim Duncan, and was ordered to make $7.5 million in restitution.
The lawsuit alleges Kentucky-based accountant Michael Wertheim and Welenken CPAs enabled Charles Banks IV to defraud Garnett through businesses in which Garnett and Banks shared an interest. Defense attorney Greg Simpson says they will “vigorously” fight the suit.
The lawsuit states that Wertheim “possessed actual knowledge that Banks was helping himself to millions of dollars of Garnett’s money and did nothing about it.”