CFOs swap accounts of stress-testing their team's internal checks and balances to protect against potential fraud. Phone: 888-91-KINGS. Sacramento took Keegan Murray at No. Watch on ESPN+, Follow Zion, Ja, RJ, De'Andre, Coby and more top rooks as they balance basketball and life during an exciting NBA season. She'd told the Kings' IT department that she needed access to David's email. Dec. 2018: David pleads guilty Across the courtroom, the U.S. attorney's team readies itself to argue that Jeff David should serve nine years in federal prison. 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. The Kings, who are in third place, are an explosive offensive team; they average a league-high 120.7 points per game. All rights reserved. When Governor Newsom first announced the Kings offered Sleep Train Arena to help house an expected surge of coronavirus patients, Peterson and Stone were not surprised. Leaving out pertinent facts will be considered a lie. Golden 1 and Kaiser Permanente wired millions to an entity they hadn't vetted without asking David to loop in his legal and finance counterparts. Join us for a March Madness Webinar on Tuesday, March 7 at 8pm ET. Prior to Philadelphia, Jabour was a Scout for the Orlando Magic (2012-14) and contributed to collegiate and professional prospect evaluation. Sixteen years of failure have given the Sacramento Kings ample time to amass a stunning record of futility spanning two ownership groups, four general managers, 11 coaches, countless players. On Sept. 7, 2018, the Heat dismiss David. When the session breaks, David's family and friends commiserate with him, but Kate doesn't move. [15] Warriors-Lakers, 3:30 p.m. (ABC) 2015-16: Golden 1, Kaiser frauds Watch on ESPN+. Led by David, they had begun discussions with several corporations for the naming rights for their new arena and training facility, which were under construction. "It's a Sacramento tradition.". With David no longer present to service the Golden 1 account or run interference, the fraud would be nearly impossible to manage. The wild story behind the NBA's most unlikely heist, Morant to miss two games after video with gun, Sixers rally to snap Bucks' 16-game win streak, Curry, Iguodala probable to return vs. Lakers, Sources: Suns hiring Pistons' Bartelstein as CEO, Grizzlies' Clarke tore Achilles, out for season, Kerr touts 5-0 homestand: Dubs 'turned a corner', KD: Mavs tilt, Kyrie meeting 'just another game', Sources: Dragic joining Bucks for rest of season, The paths of KD and Kyrie: How one month changed three franchises and two superstar legacies. 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. Grizzlies-Clippers, 10 p.m.Wednesday 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. Find out the latest on your favorite NBA teams on CBSSports.com. 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. Federal prosecutors in Sacramento, California, on Wednesday filed charges and a plea agreement signed by former chief revenue officer Jeffrey David admitting to forging the team president's signature to divert sponsorship payments to a bank account he controlled. I am excited to have Wes, Phil and Paul join the front office, said McNair. 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. 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. From the exposed wall of the lounge, guests watched Kings players dash to and from the locker room and court for warm-ups. Associate Counsel, Halle CaroloDirector, Talent & Engagement, Christina VasquezDirector, Ticket Operations, Paul JohnsonVP, Player Development & Stockton Kings General Manager, Dutch GaitleyAssistant Coach/Director of Player Development, Lindsey HardingAssistant Coach/Player Development, Mark ToyodaSr. I'll tell them the whole story and show them where the money is. Owner Vivek Ranadiv said, "I am excited to bring his extensive experience and vision onboard to lead our basketball operations department. "I knew how the Kings operated," David says. There have been so many weird things that have happened over the years with this club, which was incredible in . What's going on?!". Over a nearly four-year stretch in which he was . "You're probably not going to get that money back," Sommercamp says. David contends that from the moment he diverted funds from Golden 1 and Kaiser Permanente, he intended to repay the money. Jeff explains -- the visit from the FBI earlier in the day, the full breadth of the scam. 2023 CBS Broadcasting Inc. All Rights Reserved. [12][13] The group will join Ken Catanella, who remains with the team as an assistant GM. A former executive from the NBA's Sacramento Kings has been accused of taking $13.4m from two sponsors, according to The Sacramento Bee. 2022 season schedule, scores, stats, and highlights. The Kings take issue with this characterization. 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. [2] Early life [ edit] Born in Chicago, Illinois, Kolokotronis is the second of four daughters born to Greek immigrants. "The team almost left the city, and it was the people and companies of Sacramento that kept it there," David says. If you are having difficulty accessing any content on this website, please visit our Accessibility page. Flipping these valuable properties -- funded by his pilfering -- gave him that chance. Courthouse in Sacramento early on June 24, 2019. "I can't talk about it, but I'm obsessed. Sommercamp has questions. 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. Her bank accounts had been frozen. Between the two of them, they spent nearly 30 years with the Kings. Report this profile . ", "Theagreement has also enabled over 100 part-time Kings team members (i.e. David also doesn't disclose information about the 2012 instance of fraud until Assistant U.S. Attorney Matt Yelovich brings it up. It was looking to broker courtside signage for Peak Sport, a sportswear company. Golden 1 Center | 500 David J Stern Walk | Sacramento, CA 95814. After a few pleasantries, she gets down to business. Questions raged about how a credit union tasked with protecting the savings of teachers and a health care nonprofit could be snookered out of millions by a single individual. But the people she heard Jeff speaking with about floorings and fixtures weren't their co-investors -- they were brokers and designers consulting with Jeff about how to improve the homes for maximum return. David offers a broad outline of the Golden 1 and Kaiser Permanente schemes. On this Wikipedia the language links are at the top of the page across from the article title. McNair hopes to bring stability to the organization. ", "Jeff is white-collar meets surfer dude, the consummate bro," says a former Kings co-worker on the business operations side. But he had a desire for more. When Golden 1 remitted its first scheduled annual payment, it did so to SSP -- not the Kings. 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'm going to tell you, but I need you to hear me out," he says. Select the second team from the drop down menu. We asked how much they think the Kings should be charging under these circumstances. Jeffery R. David, the former Chef Revenue Officer of the NBA 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. Raptors-Clippers, 10 p.m. *All times Eastern. Maybe 2015? They put up 176 points and 153 points at the end of regulation in a. Her name is Stacy Wegzyn, and she works in HR. 4 on Thursday's NBA Draft, making a huge pivot than what was expected of them. The next summer, David left the Kings for the Heat. "I've got something really crazy going on at work," she said. Then Sacramento's vice president of corporate partnerships, David feared he'd have to make ends meet as a private sports marketing consultant. The house in Hermosa Beach that David purchased in July 2016 for $8 million sells for $10.6 million; the Manhattan Beach house he bought for $3.8 million sells for $4.3 million. Sacramento Kings, Kansas City Kings, Kansas City-Omaha Kings, Cincinnati Royals, Rochester Royals, Seasons: The reality is there are only four real contenders. ", "What's he talking about?! Jul 2019 - Present3 years 9 months. According to Marc Stein on The Stein Line, while the Sacramento Kings recently have proclaimed their intent to build around De'Aaron Fox and Tyrese Haliburton, there's a 'sense among some rival executives' that Fox is actually still 'gettable' in trade discussions. It's not uncommon in the NBA for one franchise to buy assets from another -- suites, signage, logo rights -- to construct a multimarket agreement for a corporate sponsor. Anderson, the government's lead attorney at sentencing, lends no credence to David's unrelenting claim that he intended to compensate the Kings, and takes issue with the premise that David committed one or two indiscreet actions. McNair was then promoted to director of basketball operations in 2013, VP of basketball operations in 2016, and assistant GM in 2018. 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. Whether it's a $20,000 signage buy with Van Wagner, a shipment of basketballs or a $110 million sponsorship deal, most NBA organizations have a rigorous system that tracks every purchase and sale. David, 44, siphoned $9 million from the Golden 1 Credit Union and $4.4 million from Kaiser Permanente. Former Kings Vice Presidents Tom Peterson and Mark Stone said they spoke with other VPs and former owners who, they say, shared their concern. There was nothing aesthetically unique about the Lexus Lounge. Our reasoning for presenting offensive logos. It's a schmoozy industry conclave where David had once thrived, and this year he is at the center of attention in absentia. To offset the $9 million, David altered the payment schedule of the initial agreement, again forging Granger's signature. And he becomes emotional when he speaks on his own behalf, pausing to collect himself as he conveys remorse to the court. Wilcox will support General Manager Monte McNair in all facets of front office operations including roster construction, strategy and player evaluation. You gotta admire Scot's remarkable humility Whenever we talk about the 2000s Sacramento Kings, a.k.a. She finally learns that there's a freeze on the family account. David had answered the unsolicited call from Van Wagner, so no one else with the Kings would have had knowledge of the discussion. It, too, is frozen. May 7, 2020 / 10:58 PM 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 field hospital for COVID-19 patients. Everyone will get their money back, and it'll be OK. However, they said that few teams are profitable year to year and they note that many businesses will lose money, along with the state. 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. Still, Peterson and Stone don't think the Kings should be allowed to profit off the pandemic. While attending college, McNair was a wide receiver on the football team. 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 . Per team policy, terms of the deal were not . Sacramento Kings event. Stone was there for nine years and was Senior VP of Arena Services under the Maloofs. An inquisitive bean counter with the Kings could assume that any new signage in the arena must be part of a larger advertising buy. She wanted to move quickly. Just zeros. "Giving back to the community, that was always emphasized in my experience there," Stone said. Though his wife and in-laws still believe he's a good man, David won't enjoy their devotion in close proximity, except as official visitation rules permit. Jeffrey David pleaded guilty earlier this year to . 2009: David sets up SSP 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. "What happened with Golden 1 and Kaiser probably doesn't happen with American Airlines or Bank of America," says a top NBA team executive. And when Golden 1 would wire $5 million, David says he planned to open up a DBA ("doing business as") account called GoldenOne from which he'd wire the $500,000 shortfall. 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. It occurs to the U.S. attorneys that David might not realize it's that conversation that implicated him. Now, in the wee hours of Wednesday morning, Wegzyn's husband, Mark, found her sitting at her kitchen table, hunched over her laptop. His first opportunity came that year when Van Wagner, a New York-based sports marketing firm, placed a routine call to David. 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. One team president says the franchise initiated a full audit of its operations days after the story became public. One NBA team controller says it's common practice at any well-run finance department, be it team or sponsor, to call when invoiced to pay an entity for the first time. IT WAS ONLY one document -- one ordinary little document -- that Stacy Wegzyn had needed from Jeff David.

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