A former Sacramento Kings executive allegedly used $13.4 million in sponsorship money to purchase beach houses, according to a report from The Sacramento Bee. It’s a detailed report that we’ll share some of, but I’d encourage you to read the whole thing.
The FBI and federal prosecutors are investigating Jeffrey R. David, 44, the former chief revenue officer for the Kings who currently holds the same position with the NBA’s Miami Heat, for what sources say was a sophisticated money-laundering scheme that allegedly diverted $9 million from the Golden 1 Credit Union and another $4.