Back in 2015, Tim Duncan sued a financial advisor of his for $20 million. Duncan said in the suit that Charles Banks had invested the money into companies where Banks had a major financial stake without disclosing that connection. The financial issue came to light during an audit of Duncan’s finances tied to his divorce.
Now Banks is about to be indicted in a Texas court, reports Adrian Wojnarowski of The Vertical at Yahoo Sports.
A federal grand jury in Texas is returning a two-count indictment for wire fraud against Charles Banks, a financial adviser who has been alleged to have mishandled over $20 million in investments of his ex-client, retired San Antonio Spurs All-Star Tim Duncan, sources with direct knowledge told The Vertical.
The indictment is expected to be unsealed in a San Antonio court Friday, where Banks is expected to be present for a hearing, sources told The Vertical.
Banks also reportedly had ties to Kevin Garnett.
This incident has not damaged Duncan’s lifestyle, he made more than $240 million in salary alone during his career.
Just watch that video above and you can see how much the Hall of Fame means to Allen Iverson.
Humble and thankful were not the words most fans would associate with Iverson back in his days as a Sixer, but when he talked about getting to the Hall of Fame he was those things, as you can see in the CSNPhilly.com video above. For the six of you who prefer to read quotes, here you go:
“The only thing that got me here is my teammates and my coaches. That’s the only reason I’m here,” he said. “All those guys sacrificed their games and sacrificed different things for me to be honored like this. Without them, it wouldn’t have happened. Without my coaches putting me in a position to succeed, Mike Bailey did it on my high school level, Coach [John] Thompson did it on a college level and Larry Brown molded me into an MVP and Hall of Fame player. Without those guys, I wouldn’t be here.”
Iverson also opened up about how all the criticism of him as a person impacted him over the years, something in Jessica Camerato’s CSNPhilly story about Iverson’s arrival.
“I can’t tell you how many — because I don’t know — but how many nights I cried from criticism and people critiquing everything about me and my life and the choices that I made and the mistakes that I made,” he said. “To be able to say after all of that, still to be recognized as one of the best ever to play the game was, and it still is, just a great moment for me, my family, my friends, my teammates, my coaches. I just think it’s the best. And especially my fans. You know me. The real true ones. The ones that never gave up and never felt that I wasn’t who in my heart I know I am.
“All of the people that criticized everything about what I’ve done in my career, they can’t take this from me, all the barbershop talk and all that stuff. The ones that support me can always say, ‘This guy was immortalized by being a Hall of Famer.’”
Bulls owner Jerry Reinsdorf heads into the Hall of Fame this weekend, the competitive man at the top of a franchise that dominated the NBA for much of the 1990s (he should spend a lot of his speech thanking Michael Jordan).
A few years back Reinsdorf thought he had another team that might win some titles, one led by Derrick Rose and Joakim Noah, with Tom Thibodeau as coach. But a series of injuries to Rose (and later Noah) benched those dreams of a return to glory. Thibodeau was forced out a year ago, and this summer the Bulls closed the door on that era by trading Rose. Reinsdorf talked about the transition with K.C. Johnson of the Chicago Tribune.
“What we felt was it was time,” Reinsdorf said of Rose’s trade. “We felt Joakim wasn’t going to be a frontline guy anymore. I was pretty confident that Pau (Gasol) was going to leave. So it was important for us to get the center in (Robin) Lopez. It was time for Derrick to go on and play someplace else and try to establish himself. Gar and Pax were high on the Grant kid (Jerian). We thought that was the necessary first step no matter how we were going to go.”
Moving on from the Rose/Noah/Thibodeau era and making this Jimmy Butler‘s team was the right move. However, the Bulls followed that up with moves that left a lot of people shaking their heads — signing Dwyane Wade and Rajon Rondo. It leaves the Bulls as a team lacking shooting and with some real defensive questions.
“We’re going to be competitive. I’m not predicting anything. But remember, as bad as we were last year, we beat Cleveland three out of four and Toronto four out of four…
“Those three guys are all high character guys and they all want it to work out,” he said. “They’ll get along with (coach Fred Hoiberg) and each other. Each guy knows what the other two guys are like. And they want to be there.”
Just a reminder: Regular season wins over a team does not equal playoff wins.
Reinsdorf owns the team and should head into next season being optimistic — all fans should be optimistic this time of year. My only question is this: When this roster flames out for a couple of years, will there be a serious review of the work of this front office?
Andrew Bogut didn’t do the high-flying spectacular shot blocks that end up on the highlight package, but he is an elite defensive center. Not only can he play man defense in the post, but he also anticipates the play amazingly well and had his big body in the way and protecting the rim. When he sat, the athletic rim protection of Festus Ezeli was often on the court. They helped anchor the Warriors defense that has been top five in the NBA two seasons running.
Now they are both gone, salary cap sacrifices to bring in Kevin Durant.
Steve Kerr told Monte Poole of CSNBayArea.com that with them gone, and Zaza Pachulia taking over the role at the five, the team’s defense will have to adjust.
“The thing that’s different will be a lack of rim protection,” Kerr told CSNBayArea.com. “We had great rim protection from Bogut and Ezeli, and both those guys are gone. Zaza’s a very good defender, but he’s more of a positional guy than a shot blocker.
“So there’s definitely adjustments we’ll have to make, even schematically. We’ll have some growing pains, especially on defense, as we try to make sure we get everything right and comfortable.”
The Warriors brass has been busy tamping down expectations for their superteam, saying they expect some struggles early. And we’ve seen that with other alleged superteams — the first season of the Heat took time to gel, the Lakers’ superteam never came together.
That said, by Christmas, expect the Warriors to be rolling. Too much talent and too many selfless players for this not to work.
SPRINGFIELD, Mass. (AP) The Masters has its green jacket. Members of the Pro Football Hall of Fame get a yellow one.
Now inductees to the basketball Hall of Fame will be presented with a “Naismith Orange” blazer when they are enshrined in hoops immortality.
The Hall unveiled the new jackets on Thursday before presenting a 2016 class of inductees that includes Shaquille O’Neal, Allen Iverson and Yao Ming. Basketball hall inductees have long been presented with a blue blazer.
“We’ll certainly be seen wherever we are,” said Hall chairman Jerry Colangelo, who was presented with the first jacket.
The American-made jacket by Haggar features a Hall of Fame crest on the left breast and special buttons.