{"id":4266,"date":"2017-04-04T19:46:04","date_gmt":"2017-04-05T00:46:04","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4266"},"modified":"2017-04-04T19:46:04","modified_gmt":"2017-04-05T00:46:04","slug":"retired-san-antonio-spurs-star-tim-duncans-ex-financial-adviser-pleads-guilty-texas-securities-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/retired-san-antonio-spurs-star-tim-duncans-ex-financial-adviser-pleads-guilty-texas-securities-fraud\/","title":{"rendered":"Retired San Antonio Spurs Star Tim Duncan\u2019s Ex-Financial Adviser Pleads Guilty To Texas Securities Fraud"},"content":{"rendered":"

\t\t\t\tIn federal court in Texas, Charles Banks, the former financial adviser to ex-NBA star Tim Duncan, has pleaded guilty to wire fraud. Banks admitted to misleading Duncan into guaranteeing a $6M loan to a company that had financial connections to the ex-advisor.<\/p>\n

Duncan, who retired from professional basketball in 2016, claims that he lost more than $20M through deals he was involved in because of Banks. The two first started working together in 1997 when Banks was employed with CSI Capital Management Inc. and Duncan was an NBA rookie. After Banks left the firm he continued working with Banks.<\/p>\n

Banks encouraged Duncan to lend a company, Gameday Entertainment, $7.5M. The company then obtained a $6M bank loan using what Duncan contends was his forged signature. Banks was Gameday\u2019s chairman at the time.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In federal court in Texas, Charles Banks, the former financial adviser to ex-NBA star Tim Duncan, has pleaded guilty to wire fraud. Banks admitted to misleading Duncan into guaranteeing a $6M loan to a company that had financial connections to the ex-advisor. Duncan, who retired from professional basketball in 2016, claims that he lost more […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781,3741,3750],"tags":[],"class_list":["post-4266","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-securities-fraud","category-texas-securities-fraud"],"yoast_head":"\nRetired San Antonio Spurs Star Tim Duncan\u2019s Ex-Financial Adviser Pleads Guilty To Texas Securities Fraud — Investor Lawyers Blog — April 4, 2017<\/title>\n<meta name=\"description\" content=\"In federal court in Texas, Charles Banks, the former financial adviser to ex-NBA star Tim Duncan, has pleaded guilty to wire fraud. 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