Ex-business manager indicted in $7M defrauding of former UA standout Richard Jefferson

[TexasTowelie]

A federal grand jury in Tucson has indicted the ex-business manager of Richard Jefferson, a Cleveland Cavaliers player and former University of Arizona basketball standout, on charges of defrauding Jefferson of $7 million.

Theodore Kritza is charged with 22 counts of bank fraud, wire fraud, and aggravated identity theft, according to a June 14 indictment filed in U.S. District Court in Tucson. He is scheduled to be arraigned Friday morning, June 30.

Kritza forged Jefferson's signature on bank documents in 2005 to give himself power of attorney over Jefferson's finances, according to the indictment. Kritza made legitimate payments for Jefferson's bills, but also used millions of dollars for his own benefit.

Jefferson discovered the alleged fraud in 2012 when he bought a home and learned of an outstanding loan and several other loans initiated without his knowledge, according to the 30-page indictment.

Read more: http://tucson.com/news/local/ex-business-manager-indicted-in-m-defrauding-of-former-ua/article_c5e88df8-25ab-56e2-b61c-1bffa65dfd6d.html

[Wellstone ruled]

1. I think many would be amazed at

how common these Pro Players get drained dry by their so called Business Managers.

[Mosby]

2. Tim Duncan's manager was just sentenced to four years in prison

[Wellstone ruled]

3. One of the few that the Justice Department

took a stand. Most of these deals are plea bargained and there never is a person made whole.