Kevin Garnett is suing an accountant and his firm, alleging they helped a wealth manager steal $77 million from the retired Minnesota Timberwolves and Boston Celtics star.
The federal malpractice lawsuit alleges Kentucky-based accountant Michael Wertheim and Welenken CPAs enabled Charles Banks IV of Atlanta to defraud Garnett through businesses in which Garnett and Banks shared an interest.
The lawsuit contends Wertheim “possessed actual knowledge that Banks was helping himself to millions of dollars of Garnett’s money and did nothing about it.”
Defense attorney Greg Simpson, in the Minneapolis Star Tribune, said his clients deny the allegations and will “vigorously” fight the suit.
Banks was not named as a defendant. Banks was sentenced last year to four years in federal prison for defrauding another former NBA star, retired San Antonio Spurs player Tim Duncan, of millions of dollars.