Federal authorities filed criminal charges Friday against Tim Duncan’s former financial adviser.
Duncan sued him over the loss of millions of dollars in an investment scandal.
Venture capitalist and investment counselor Charles Banks had been indicted on a pair of wire fraud charges, and later released on bail.
Banks has been investigated by the FBI for over a year, and faces up to twenty years in prison per charge if convicted for defrauding an investor, aka Duncan.
Banks’ lawyer insists that he’s innocent and that his client will come out unscathed from all charges once the evidence is presented, but that’s what he’s supposed to say.