A former financial adviser to Tim Duncan was charged Friday with two counts of wire fraud related to allegations that he mishandled over $20 million of the NBA legend’s money.
Charles Banks, who had been under investigation by the FBI for over a year, was indicted by a federal grand jury Wednesday and surrendered to U.S. marshalls in San Antonio on Friday, according to the San Antonio Express News.
Duncan sued Banks in 2015, claiming the adviser put him into several investments in hotels, wineries and beauty products without disclosing his personal financial interest in the companies.