NBA Executive Under Federal Investigation After Old Team Makes Suspicious Discovery

Sam Wasson / Getty ImagesVlade Divac, left, general manager of the Sacramento Kings, and team owner Vivek Ranadive watch a game between the Kings and the Memphis Grizzlies during the 2018 NBA Summer League at the Thomas & Mack Center on July 10 in Las Vegas. (Sam Wasson / Getty Images)

By The Wildcard
Published August 30, 2018 at 12:25pm

The Sacramento Kings said Thursday that federal authorities are investigating a former top executive after team officials uncovered suspicious financial transactions.

The Kings said the FBI and federal prosecutors took formal action Monday to recover money former chief revenue officer Jeffrey David is suspected of embezzling.

David holds the same position with the Miami Heat after leaving the Kings in June.

The U.S. Attorney’s Office in Sacramento, California, declined to comment, and the team provided no other details.

No charges have been filed.

A person with knowledge of the investigation told The Associated Press that David is suspected of embezzling about $13 million from sponsorship transactions and buying Southern California real estate with the money. The person spoke on the condition of anonymity because the person wasn’t authorized to speak publicly about the investigation.

The person said federal authorities formally sought seizure of the properties Monday.

The Sacramento Bee first reported the investigation

BREAKING: Former Sacramento Kings exec allegedly took millions in team sponsor money for beach homeshttps://t.co/FA7HSqwle7

— Sam Stanton (@StantonSam) August 30, 2018

The Heat said they are cooperating with the investigation and have put David on leave.

The NBA said it is aware of the investigation and has been in contact with the Kings and Heat and with authorities.

“We will continue to monitor for any developments,” the NBA said in a statement.

David didn’t respond to an email request for comment.

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The Heat hired David in July, with team president of business operations Eric Woolworth calling him “supremely qualified” to help the franchise.

David has spent more than a decade in the NBA. Former NBA Commissioner David Stern appointed him in 2012 to serve as the Kings’ chief revenue officer.

The Associated Press contributed to this report.

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