{"id":6174,"date":"2017-07-14T19:16:03","date_gmt":"2017-07-15T00:16:03","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1671"},"modified":"2022-05-19T09:45:48","modified_gmt":"2022-05-19T14:45:48","slug":"investment-fraud-retired-nba-stars-ex-financial-adviser-barred-sec-former-investment-adviser-pleads-guilty-1-1m-scam-convicted-broker-sentenced-18-months-one-time","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investment-fraud-retired-nba-stars-ex-financial-adviser-barred-sec-former-investment-adviser-pleads-guilty-1-1m-scam-convicted-broker-sentenced-18-months-one-time\/","title":{"rendered":"Investment Fraud: Retired NBA Star\u2019s Ex-Financial Adviser is Barred by the SEC, Former Investment Adviser Pleads Guilty in $1.1M Scam, Convicted Broker is Sentenced to 18 Months, and One-Time Pastor Must Pay Back Over $1M to Victims"},"content":{"rendered":"<p><strong>Ex-Adviser of Retired NBA Player Tim Duncan is Barred from the Industry<\/strong><\/p>\n<p>The US Securities and Exchange Commission has gotten a judgment barring former financial adviser Charles A. Banks IV from the securities industry. Banks, who pleaded guilty to wire fraud that involved bilking ex-NBA player Tim Duncan, was sentenced to 48 months in prison in criminal court and ordered to pay $7.5M in restitution.<\/p>\n<p>Now, because he committed<a href=\"https:\/\/www.securities-fraud-attorneys.com\"> investment fraud<\/a>, Banks is also banned from the industry, as well as prohibited from serving as a director or an officer of any public company. Banks also must pay a penalty, disgorgement, and pre-judgment interest.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/investment-fraud-retired-nba-stars-ex-financial-adviser-barred-sec-former-investment-adviser-pleads-guilty-1-1m-scam-convicted-broker-sentenced-18-months-one-time\/\"  title=\"Continue Reading Investment Fraud: Retired NBA Star\u2019s Ex-Financial Adviser is Barred by the SEC, Former Investment Adviser Pleads Guilty in $1.1M Scam, Convicted Broker is Sentenced to 18 Months, and One-Time Pastor Must Pay Back Over $1M to Victims\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ex-Adviser of Retired NBA Player Tim Duncan is Barred from the Industry The US Securities and Exchange Commission has gotten a judgment barring former financial adviser Charles A. Banks IV from the securities industry. Banks, who pleaded guilty to wire fraud that involved bilking ex-NBA player Tim Duncan, was sentenced to 48 months in prison [&hellip;]<\/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":[3781,3760,3761,3741],"tags":[],"class_list":["post-6174","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-sec-enforcement","category-securities-and-exchange-commis","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment Fraud: Retired NBA Star\u2019s Ex-Financial Adviser is Barred by the SEC, Former Investment Adviser Pleads Guilty in $1.1M Scam, Convicted Broker is Sentenced to 18 Months, and One-Time Pastor Must Pay Back Over $1M to Victims &#8212; Investor Lawyers Blog &#8212; July 14, 2017<\/title>\n<meta name=\"description\" content=\"Ex-Adviser of Retired NBA Player Tim Duncan is Barred from the Industry The US Securities and Exchange Commission has gotten a judgment barring former &#8212; July 14, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/investment-fraud-retired-nba-stars-ex-financial-adviser-barred-sec-former-investment-adviser-pleads-guilty-1-1m-scam-convicted-broker-sentenced-18-months-one-time\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Investment Fraud: Retired NBA Star\u2019s Ex-Financial Adviser is Barred by the SEC, Former Investment Adviser Pleads Guilty in $1.1M Scam, Convicted Broker is Sentenced to 18 Months, and One-Time Pastor Must Pay Back Over $1M to Victims &#8212; Investor Lawyers Blog &#8212; 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