Jeffrey R. David, the former Sacramento Kings executive and rising NBA star who schemed to steal $13.4 million from the franchise and sponsors to snatch up exclusive beachfront properties, pleaded guilty Tuesday to two counts of wire fraud and aggravated identity theft in Sacramento federal court.
David, 44, will be sentenced April 15 before U.S. District Court Judge William B. Shubb. He remains free on his own recognizance pending the April sentencing date.
A stone-faced David stood before Shubb between his lawyers, Marc David Seitles and Mark Reichel, as Deputy U.S. Attorney Matthew Yelovich laid out the nearly five-year scheme to divert the millions from five team sponsors to buy homes in Hermosa Beach and Manhattan Beach.