Last September Associated Press released a report that Kevin Garnett will be suing an accountant by the name of Michael Wertheim and Welenken CPAs. For allegedly helping Charles Banks IV of Atlanta defraud Garnett of 77 million dollars.
“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,” which was noted in the lawsuit.
The lawsuit was originally filed in Hennepin County District Court but was later be moved to U.S. District Court in Minneapolis. Banks was not named as a defendant in the case, but he was sentenced to four years in federal prison for another casing involving future Hall of Famer Tim Duncan, who he defrauded as well.
“Based upon the facts, we are confident this matter ultimately will be resolved in Mr. Garnett’s favor,” said Mark Gaughan Garnett’s attorney.
Last year, A source informed me that “Jason Terry and Kevin Garnett will be working on a project with Netflix. That will help educate athletes about their finances to avoid being defrauded by their financial advisors.”
This past weekend in Dallas, I spoke with Terry to see if the project with Netflix was true on behalf of Fanatics View.
“Well, I think not just their money, but the overall management of professional athletes career. Not just basketball, but baseball, football, and what have you. There is a generation where we have not educated the next generation properly. It is something that is needed and helpfully Kevin and I can through a platform come out and give guys the knowledge that they needed to have a successful life after sports.
Kevin Garnett and Jason Terry were teammates with the Boston Celtics during the 2012-13 season and then were traded to the Brooklyn Nets where they play one more season together.