The Sacramento Kings announced today that Wes Wilcox, Phil Jabour and Paul Johnson have been added to the team's basketball operations group. When Golden 1 remitted its first scheduled annual payment, it did so to SSP -- not the Kings. Unlike Golden 1's advance of $9 million, which produced annual shortfalls later in the deal, Kaiser Permanente's $4.4 upfront payment created no missing money. Former Kings executive Jeffrey David explains decision to steal "I was just curious what that is and if those are documents that should go to somebody else," Wegzyn says. He says he believes that the Kings' finance department wouldn't have a concern that the $5.5 million had arrived in two payments as long as the full amount was present. The organization points to its "In This Together" initiative. How NBA executive Jeff David stole $13 million from the Sacramento Kings On Thursday, when the Kings were mining their network for additional evidence, a folder named "660" was uncovered -- 660 J Street was a temporary home of the team's business operations during construction of the new arena. Then drop a silly rap lyric about an account.". The U.S. attorney's office and others in law enforcement praise the Kings for swiftly responding to what Wegzyn uncovered. Carson Augostatos - Manager, Loyalty Marketing - Sacramento Kings McNair grew up in Oak Park, California, and attended Oak Park High School. "He knew I was capable of it" - Ex-Sacramento Kings backup center Scot Pollard said Rick Adelman always wanted him to score. "It tells a better story.". Fifteen years in Cincinnati. All content 2000-2023 RealGM, L.L.C. A former top Sacramento Kings executive was sentenced Monday to seven years in prison for siphoning $13.4 million from the team. Free Test. Leaving out pertinent facts will be considered a lie. No alert, no explanation. (4/15/20), A month since the Kings last game, Kings players are still taking action as Richaun Holmes, De'Aaron Fox, Bogdan Bogdanovic and Harrison Barnes are donating 1,000+ meals to local families. Former Kings Vice Presidents Tom Peterson and Mark Stone said they spoke with other VPs and former owners who, they say, shared their concern. They estimate that the Kings are profiting hundreds of thousands of dollars a month as, in their estimate, the cost to run the shuttered facility is a small fraction of what the state is paying to rent it. Jeffery R. David, the former Chef Revenue Officer of the NBA Wilcox will support General Manager Monte McNair in all facets of front office operations including roster construction, strategy and player evaluation. A surge of adrenaline jolted through Wegzyn's body. Director, Basketball Administration, Robbie LemonsSr. She wanted to move quickly. Peterson was with the organization for 25 years under three different owners. Select the first team from the drop down menu. Jeff wears a double-vented navy suit, whiskey-colored shoes and thick-framed glasses; Kate is in a black dress. As Wegzyn navigated a morass of files in David's old directory, she hadn't been able to discern an organized system, so she'd had to open things one by one. David and Golden 1 had a deal structure that included 20 annual payments averaging $5.5 million. And even though he was earning $360,000 per year plus bonuses, just about everyone in here made more than he did. David breaks down during the testimonial from his mother-in-law, removing his glasses and burying his head in his hands. Sacramento Kings Executives | Basketball-Reference.com Kaiser agreed, and on Aug. 19, 2015, David invoiced the company on Sacramento Kings letterhead, payable not to the Kings but to his SSP account. "Does this have anything to do with those FBI agents today?". Like most, they thought that the Kings were donating the shuttered arena to the state for free. Sacramento Kings Staff & Executives - RealGM Sacramento's also failed to field a league-average defense even once since Adelman. All rights reserved. (3/13/20), First published on May 7, 2020 / 10:58 PM. So Golden 1 would be getting an invoice for $5.5 million weeks before the payment." "You're going to go to prison," Kate says. He had launched the first in a series of grifts that would grow from thousands to millions of dollars. Ex-Sacramento Kings executive admits to defrauding team "The alternate care facility is capable of housing up to 400 beds approx. He won't see the children at all for the next several years. Jabour was hired by the Rockets after working as a support staff member with USA Basketball in 2006 following four years on staff with Arizona State mens basketball program. Six seasons split between Kansas City and Omaha, and then seven more in just K.C. Jeff explains -- the visit from the FBI earlier in the day, the full breadth of the scam. [2] Early life [ edit] Born in Chicago, Illinois, Kolokotronis is the second of four daughters born to Greek immigrants. As the Kings' CRO, he had been the architect of multimillion-dollar sponsorship deals that were funneled to an ownership group whose managing partner was worth several hundred million dollars. Starting in 2026, the annual installments due on July 1 of each year were reduced by either $500,000 or $1 million for the duration of the deal. Contact Us | NBA.com 2015-16: Golden 1, Kaiser frauds Select the players you wish to trade from the rosters below. Here is the full list of the CBS13 stories cited by the Kings: The NBA 2K League is set to start on May 5 as teams will compete remotely due to COVID-19. Select the fourth team from the drop down menu. The Kings take issue with this characterization. To believe that any of 2023's neo-contenders can become bonafide champs over the next few months is to believe that a once-in-a-quarter-century occurrence is about to transpire. Wilcox joins the Kings organization with nearly 20 years of experience in the NBA, including serving as General Manager (2015-17) and Assistant General Manager (2012-15) of the Atlanta Hawks. In addition to the duties as Manager, Sales Operations. $32k-$35k/yr Account Executive, Ticket Sales Job at Sacramento Kings Sacramento Kings Company Profile | Management and Employees List - Datanyze The Kings were heavily favored to either draft Purdue's Jaden Ivey among. FIFTEEN DAYS BEFORE David begins serving his sentence, a pressing matter lands on his docket. NBA executives believe Kings could trade No. 4 pick for immediate help There was nothing aesthetically unique about the Lexus Lounge. Stone was there for nine years and was Senior VP of Arena Services under the Maloofs. I'll be up soon.". Now he was a part of the action with his most wealthy counterparts, demonstrating to himself that he could succeed at the art of investment. The longer Jeff believes the inquiry is about the title company, the more likely it is that Sommercamp can extract the details he wants. NBA piles on brutal week of Kings clock issues with fine - Yahoo! His first opportunity came that year when Van Wagner, a New York-based sports marketing firm, placed a routine call to David. Sommercamp asks Jeff how he found the money to buy it. Starting with the 2023-24 NFL season, all preseason and regular season 49ers games will be radio broadcast by Sactown Sports for the Sacramento Faithful. The Kings have been recognized as one of the top 10 most innovative teams and success in this position is enhanced through the use of premium software such as: Dialpad, Clearslide, OneMob, Salesforce, DialSource, ZoomInfo, and Linked-In Sales Navigator, among others. Wegzyn figured a quick tour of his file directory would produce something, so on Tuesday, six days before the FBI sting in Miami, she'd had the Kings' IT department download an archive from their shared cloud system. All rights reserved. Warriors-Lakers, 3:30 p.m. (ABC) Nearby, a shrine commemorated Ranadive's meetings with global celebrities. Bringing decades of experience in sports and government law, community affairs and contract negotiations, Kolokotronis' leadership has been integral to the development of the state-of-the-art, Golden 1 Center as well as its adjacent, $500 million mixed-use development project, Downtown Commons. Later that Wednesday, Wegzyn reached out to Golden 1 and Kaiser Permanente to learn more. And he becomes emotional when he speaks on his own behalf, pausing to collect himself as he conveys remorse to the court. Kings exec's fraud outlined in agonizing detail - Yahoo! Because the advertising had been purchased by Van Wagner on behalf of Peak Sports, there was no suspicion that a check from Peak hadn't turned up in the accounting department. Three takeaways from Kings 123-117 win against Thunder, Three takeaways from Kings 124-115 win over Oklahoma City Thunder, Kings waive KZ Okpala, sign PJ Dozier for the rest of the season, 5 takeaways from the Kings beating the Clippers in the second-highest scoring NBA game ever, 3 takeaways from Sacramentos 133-116 win over the Portland Trail Blazers. David contends that from the moment he diverted funds from Golden 1 and Kaiser Permanente, he intended to repay the money. Wegzyn and the Kings brass realized it was time to escalate this homegrown investigation. Why did Jeff David steal $13.4M from the Kings? Sacramento took Keegan Murray at No. - Develop Fan Experience strategy to sell $100k in experiences through the Kings App. Ex-Sacramento Kings Executive Admits To Defrauding Team Select the first team from the drop down menu. Tech titans helped themselves to sushi, while guests roamed downstairs on Ranadive's sunken basketball half court. But he had a desire for more. U.S. Attorney's Office, Eastern District of California SACRAMENTO, Calif. Jeffrey R. David, 44, was sentenced today by U.S. District Judge William B. Shubb to seven years in prison for wire fraud and aggravated identity theft, U.S. Attorney McGregor W. Scott announced. Hours earlier, the FBI had stormed her house. The news first broke in August 2018, when the Sacramento Bee's Sam Stanton and Darrell Smith revealed David's scheme to siphon $13.4 million from Kings sponsors Golden 1 Credit Union and . A spokesperson noted that CBS13 has covered many of their efforts to give back and pointed to several examples of our own coverage ranging from a story about joint effort with the 49ers to donate face coverings for health care providers, to a story about donations of food and money from the Kings players themselves. That is why they made several moves at the trade deadline. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. "That explanation rings hollow for me," Stone said. Still, in a Kings organization often beset by palace intrigue, many colleagues found Jeff to be a reassuring voice who preached the virtues of "not sweating the small stuff." In scouring David's correspondences, it appeared as if he'd been working to sell one of the properties. Amid all of this, Jeff receives a phone call from a former co-worker with the Kings. Sommercamp wants to know who these investors are. Furthermore, the U.S. attorney's office believes the debate over whether David could feasibly repay the funds is irrelevant because he had no intention to do so. FOR JEFF DAVID, the summer of 2017 was one of those times when the reality of a man's life surpasses even his dreams. What if this is all legit? Legality of League Punishments of Team Executives NBA NFL MLB NHL "What happened with Golden 1 and Kaiser probably doesn't happen with American Airlines or Bank of America," says a top NBA team executive. I'll tell you that," Peterson said. 4 overall pick in the 2022 NBA Draft, the discourse of shopping the pick has been a quiet Plan B that league. Dr. A's weekly risers and fallers: Jeremy Sochan, Christian Wood make the list, NBA Power Rankings: Kevin Durant's return could rock the West, Inside the NBA's silent tension surrounding Daryl Morey, From the archives: How former ref Tim Donaghy conspired to fix NBA games, in a Kings organization often beset by palace intrigue, stay of execution that had wrested the team back from Seattle in 2013, Supplemental Privacy Policy for Singapore. "They're not providing any of that. Wegzyn was aware of other entities associated with the Kings' basketball and real estate assets, but this one didn't sound familiar. When the FBI arrived Wednesday afternoon, the Kings were armed with troves of documents unearthed and organized by Wegzyn -- a binder with all the correspondence, the tax documents, the bank statements, anything she could get her hands on. Choose at least two teams from the menus below to start your trade. Clippers vs Kings, March 3, 2023 | Basketball-Reference.com "It was particularly difficult for us because we had previously been witnesses to many occasions on which his strong moral compass was in clear view in far less profound situations," she says. As the person principally responsible for selling associations to these famous athletes, David was a fixture on the event level, too. Wes background as an executive in the league combined with Phils veteran leadership through the scouting ranks and Pauls proven experience in evaluating talent will be strong additions to the basketball operations group. 2016: Purchases beach homes Location: Sacramento, California Team Names: Sacramento Kings, Kansas City Kings, Kansas City-Omaha Kings, Cincinnati Royals, Rochester Royals Seasons: 75; 1948-49 to 2022-23 Record: 2691-3212, .456 W-L% Playoff Appearances: 29 Championships: 1 More Franchise Info Report this profile . Tools and Resources Used by Real General Managers. "It seemed out of sorts from what our morals and core values were," Peterson said. He joined the Cavaliers in 2003 and held the roles of Advance Scout, College Scout, Pro Personnel Scout and Assistant Coach, prior to his promotion to Director of Player Personnel. But it's when Sommercamp asks about how he obtained signatures from his partners in Sacramento that Jeff knows it's time to suspend his cheery front. It also gave David an opening. AZ, CO, CT, IL, IN, IA, KS, LA, (select parishes), MD, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY, CA-ONT only.Eligibility restrictions apply. [8][9] Divac and the Kings traded DeMarcus Cousins to New Orleans in 2017 and chose to draft Marvin Bagley III in 2018, one pick ahead of Luka Doncic. A year earlier, Jeff had purchased an $8 million home in Hermosa Beach, 20 miles southwest of Los Angeles. She finally learns that there's a freeze on the family account. With David no longer present to service the Golden 1 account or run interference, the fraud would be nearly impossible to manage. What did you do?! "I can liquidate the properties. Monte McNair - Wikipedia The average Sacramento Kings executive makes $274,769 a year. He promptly returned the $6 million and instructed Golden 1 to wire the funds to the Kings' primary account. Wegzyn had also found a couple of K-1 tax forms listing Golden 1 and Kaiser Permanente as partners in SSP, which seemed peculiar given that credit unions and health care consortiums don't make a habit of investing in beach houses with basketball executives. "We're going to lose everything.". SACRAMENTO, Calif. (CN) - Capping a corporate embezzlement scheme executed inside the headquarters of a major sports franchise, a federal judge on Monday sentenced a former Sacramento Kings executive to seven years in prison for a series of white-collar crimes. The story Jeff David was about to tell his wife -- of a yearslong fraud, of millions of dollars stolen -- was almost too absurd to believe. On this Wikipedia the language links are at the top of the page across from the article title.
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