September 7, 2018

Kevin Garnett Sues Accountant Over $77 Million Allegedly Stolen By Wealth Manager

Kevin Garnett Sues Accountant Over $77 Million Allegedly Stolen By Wealth Manager
Photo credit Joe Robbins/Getty Images

Kevin Garnett is suing an accountant and his firm, alleging that they helped wealth manager Charles A. Banks IV steal $77 million from him. This likely happened slowly over the course of a few years, and now the retired Minnesota Timberwolves and Boston Celtics is pursuing a federal malpractice lawsuit alleges Kentucky-based accountant Michael Wertheim and Welenken CPAs.

The lawsuit contends Wertheim “possessed actual knowledge that Banks was helping himself to millions of dollars of Garnett’s money and did nothing about it.” It’s also worth nothing that Banks was sentenced last year to four years in federal prison. He was charged with defrauding another former NBA star of a million dollars. The defendant was Tim Duncan, retired San Antonio Spurs player.

Garnett’s attorney for the suit is Mark Gaughan, and he is confident in the possible result of the legal battle. He says, “Based upon the facts, we are confident this matter ultimately will be resolved in Mr. Garnett’s favor.”

Wertheim vehemently denies any involvement with Charles A. Banks IV in this case. 

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