Kevin Garnett Files Lawsuit Alleging Accountant Helped Steal $77M From Him
Kevin Garnett reportedly made more than $343 MILLION during his NBA career, but it should’ve been a lot more if he had people in his corner that were trustworthy.
The former Minnesota Timberwolves and Boston Celtics legend claims in a lawsuit that an accountant and his firm helped a now-imprisoned wealth manager steal $77 million from him. Garnett claims the accountant aided wealth manager Charles A. Banks IV in the theft and should be held responsible.
“Wertheim “possessed actual knowledge that Banks was helping himself to millions of dollars of Garnett’s money and did nothing about it,” according to the suit, which was moved Wednesday from Hennepin County District Court to U.S. District Court in Minneapolis.
“Banks intentionally … looted Garnett of his earnings and assets for many years, including the many years that Welenken and Wertheim provided accounting services to Garnett and his business interests.”
“One example … in August 2013, Garnett claims he asked his wealth manager to wire him $40,000 of his own money — but was scolded for exceeding their budget. Meanwhile, KG claims the wealth manager took more than $2 MILLION for himself over an 8 day span. “
Wertheim’s defense attorney says he and his client will “vigorously” fight Garnett’s allegations.