Charles Banks, former financial advisor to legendary NBA forward Tim Duncan, has been sentenced to four years in prison for swindling $20 million from Duncan, according to multiple reports.
Banks pled guilty to the crime back in April, and officially received his sentence Wednesday morning in federal court.
Following from News4 San Antonio:
Charles Banks, IV, had faced up to 20 years in prison and offered a tearful apology in court during his sentencing in federal court.
“I’m sorry and I accept responsibility for what I’ve done,” he said. He also teared up when he described the sight of him being shackled in front of his family.
Duncan was joined by former teammate Manu Ginobili in court, as well as Spurs general manager R.C. Buford and coach Gregg Popovich, according to reports.
Duncan reportedly pushed hard for Banks to receive a substantial sentence for his acts.
I told everyone that I never wanted to see my name in the paper again.”
He wrote, “I beat my body up and lost precious time with my family” to succeed and not have to worry about finances.
The statement continued, “As the poster child for a dumb athlete” who got had, “I hate it and am embarrassed for it.”
Duncan was satisfied with the end result of four years behind bars.
“I’m fine with what they decided,” Duncan said.
Duncan spent his entire 19-year career as a member of the San Antonio Spurs, winning championships in 1999, 2003, 2005, 2007 and 2014.
