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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. A few minutes after he hangs up, his mother-in-law, Nancy, is standing at the front door when an FBI investigator appears, asking to speak to Jeff.Editor's PicksInside the NBA's silent tension surrounding Daryl Morey3yKevin ArnovitzFrom the archives: How former ref Tim Donaghy conspired to fix NBA games3yScott Eden1 Related. Kevin Durant, Kyrie Irving, Karl-Anthony Towns, Kawhi Leonard, Anthony Davis and Brandon Ingram will play outsized roles in how their respective teams close the season. Everyone will get their money back, and it'll be OK. Account Executive at Sacramento Kings Sacramento, California, United States. After restitution is paid to the Kings and other wronged parties, the remaining money goes to an asset forfeiture fund that compensates crime victims. But multiple sources who have come through the Kings organization over the past decade say the organization had systemic flaws that left it susceptible during much of David's tenure. The Kings had given David an autonomy he could exploit. But he had a desire for more. Deals like this often have "escalators," an excess amount paid each year to account for inflation or increased operating costs -- akin to a cost-of-living adjustment. / CBS Sacramento. Just zeros. ", "What's he talking about?! This is the first moment when Kate, remarkably stoic throughout the 90-minute sentencing, visibly cries. It also gave David an opening. (4/20/20), Kings fans came together to show support for frontline health care workers on Wednesday night, which was supposed to be the team's regular-season finale. Select the third team from the drop down menu. "I was just curious what that is and if those are documents that should go to somebody else," Wegzyn says. It, too, is frozen. Four blocks down L Street was the capital of the world's fifth-largest economy, and the lobbyists who grease the wheels of that engine were there at one of 41 exclusive parties per season. David, 44, siphoned $9 million from the Golden 1 Credit Union and $4.4 million from Kaiser Permanente. . However, CBS13 also asked how the Kings planned to use the money it is making on the arena during the pandemic. Jeff explains -- the visit from the FBI earlier in the day, the full breadth of the scam. It's not going to be a big deal.". When the session breaks, David's family and friends commiserate with him, but Kate doesn't move. Rich and Nancy become incredulous. They put up 176 points and 153 points at the end of regulation in a. CFOs swap accounts of stress-testing their team's internal checks and balances to protect against potential fraud. Given the circumstances, they're worried David might try to arrange a questionable below-market deal with a side payment to himself or a friend. Officials from Golden 1, Kaiser Permanente and Van Wagner declined to comment. [5] From 2006 to 2007, he was a sports programmer and researcher at STATS LLC. 2019: Begins seven-year sentence. Watch our How-To Videos to Become a Stathead, Subscribe to Stathead and get access to more data than you can imagine. "We're partners. When it came time to bill the buyer, David used the Kings' standard invoice template but had Van Wagner make three payments, totaling about $30,000, to SSP. [14], One of the largest problems that McNair faced was filling the shooting guard position as Bogdan Bogdanovic was a free agent in the 2020 offseason. In August 2018, the Kings' senior vice president of human resources had been looking for a copy of a commission structure to build out the corporate sales team. The cash used in the purchases was almost entirely the millions sent to Jeff by Golden 1 and Kaiser Permanente. BACK IN COCONUT Grove, in the living room of the house that Jeff and Kate had been renting, Kate lies shivering in a ball on the couch. Free Test. Jul 2019 - Present3 years 9 months. Also, she wondered, why would a business whose name suggests it's an arm of the Kings write off a golf cart at a beach house near Los Angeles? "I need you to listen to me.". In September, $4.4 million landed in the account of SSP. She finally learns that there's a freeze on the family account. Wilcox began his career in the NBA as an intern (2001-02) with the Miami Heat in their scouting and video department, before becoming a Video Coordinator with the New Orleans Hornets in 2002-03. "You have to put on real clothes, dude," he tells his 5-year-old son, who finds the proposition that he can't wear pajamas to a suburban shopping mall entirely unconvincing. On July 5, 2016, Golden 1 wired $9 million to SSP. All logos are the trademark & property of their owners and not Sports Reference LLC. Sommercamp wants to know who these investors are. Kevin Arnovitz explains what the possible motivations were for former Kings executive Jeff David siphoning millions of dollars from the team. It was audacious and, in David's mind, airtight. He is an Arizona State University alum (2006) and earned a Masters of International Business from the University of St. Thomas (2007). Our reasoning for presenting offensive logos. They showed this by drafting Davion Mitchell with the 9th overall pick. 2022 season schedule, scores, stats, and highlights. Between the two of them, they spent nearly 30 years with the Kings. Follow game Los Angeles Clippers vs Sacramento Kings live coverage, stream information, score online, prediction, TV channel, lineups preview, start date and result updates of the NBA on March 3rd . 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. Kate grasps for any theory, speculating that the agents might have been con artists posing as Feds to fleece the family. "[10], The Kings also interviewed Sachin Gupta (Timberwolves' EVP of basketball operations), Wes Wilcox (Hawks' former GM), and Calvin Booth (GM of the Nuggets) for the position. Reading David's email felt invasive, even if Kings employees, like those at most companies, sign away their privacy to people like her. 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. He does not believe Jeff is a victim. We're going through an audit, and I'd like to see if you can send me a list of all payments made to my organization over the last five years.". I'll tell you that," Peterson said. THE KINGS ENTERED 2015 celebrating their unlikely survival. Her bank accounts had been frozen. NBA.com is part of Warner Media, LLCs Turner Sports & Entertainment Digital Network. And after two stints with the Kings spanning more than a decade -- while helping secure hundreds of millions of dollars in arena sponsorships for the team -- he has joined one of the NBA's most respected organizations in an appealing, sun-drenched market. FIFTEEN DAYS BEFORE David begins serving his sentence, a pressing matter lands on his docket. 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. They wanted to go local. Grizzlies-Clippers, 10 p.m.Wednesday As rewarding as sales work can be on behalf of a pro basketball team, it hadn't satisfied Jeff's thirst for more. Its likely that a decision like this wont be made during the combine and invitational workouts, so seeing what Kings brass next moves are will be a huge indicator in exactly how they intend on ending the 16-year playoff drought. Stacy and Mark bid schmaltzy parental farewells to their daughter, whom they settled at school, then reversed course back to Sacramento. By choosing I Accept, you consent to our use of cookies and other tracking technologies. Jeff volunteers that Golden 1 and Kaiser Permanente, two major sponsors with the Kings, are partners. They state that a lengthy sentence would be an act of vengeance with no practical purpose. JEFF, KATE AND their families arrive at the U.S. Do you have a sports website? His life is seemingly picture-perfect. It is July 2018, and much of David's family is on hand to help with the move. The Sacramento Bee was the outlet that published the allegations made by. Shubb, an 81-year-old who has presided on the bench in the Eastern District of California since 1990, expresses deep skepticism over whether David's contention that he planned to pay back the money is plausible. Why did Jeff David steal $13.4M from the Kings? "We're going to lose everything.". 4 on Thursday's NBA Draft, making a huge pivot than what was expected of them. * 21+ (19+ CA-ONT) (18+ NH/WY). Question, Comment, Feedback, or Correction? SACRAMENTO (CBS13) Former Sacramento Kings executives say they are shocked that the organization is charging the state $500,000 a month to rent the shuttered Sleep Train Arena to be used as a. "The alternate care facility is capable of housing up to 400 beds approx. An inquisitive bean counter with the Kings could assume that any new signage in the arena must be part of a larger advertising buy. The mutual trust between David and the sponsors was unassailable -- enough to even navigate a snafu that could have derailed his entire scheme. One Kings co-worker considered him the sort of oleaginous salesman who'd go into business with anyone. Report this profile . "This was a long, sophisticated course of conduct that required registering LLCs with the state, opening commercial mailboxes in the LLC's name, using the identities and the good names of prominent regional businesspeople, signing their names on LLC documents unbeknownst to them, and using their identities to perpetuate fraud," he says. In the matter of Kaiser Permanente's $4.4 million, these executives are even more dubious of David's blueprint to make the Kings whole. 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. [6], In 2007, McNair joined the Houston Rockets as the basketball operations senior analyst. 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. Very fast paced and high stress environment. Watch on ESPN+.