Advertisement

Former Timberwolves star Kevin Garnett's lawsuit claiming he was defrauded is dismissed

Former Timberwolves star Kevin Garnett's lawsuit claiming he was defrauded is dismissed Photo: KSTP/File

Updated: July 10, 2019 03:44 PM

Former Minnesota Timberwolves star Kevin Garnett's lawsuit alleging he was defrauded has been dismissed.

The lawsuit was originally filed in Hennepin County against a Louisville-based accounting firm and an accountant there, alleging they were complicit in enormous financial losses suffered at the hands of a longtime friend and wealth manager.

Advertisement

RELATED: Former Timberwolves star Garnett files lawsuit alleging he was defrauded

Charles A. Banks was sentenced to four years in federal prison in 2017 for defrauding former NBA star Tim Duncan. The lawsuit alleged in August of last year, Garnett and his representatives gained access to the records of Welenken CPAs and accountant Michael Wertheim, who had "provided accounting services to Banks, Garnett, and virtually all of the businesses Garnett shared with Banks."

The lawsuit - which sought damages in excess of $77 million - alleged "Banks intentionally and continuously 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."

According to court documents, the lawsuit was dismissed with prejudice without costs, disbursements and fees to either side. The dismissal was filed on July 1.

One of Garnett's lawyers told KSTP on Wednesday that they have no comment at this time.

Connect with KSTP


Join the conversation on our social media platforms. Share your comments on our Facebook, Instagram, and Twitter pages.

Credits

Tommy Wiita

Copyright 2019 - KSTP-TV, LLC A Hubbard Broadcasting Company

Advertisement

Monday's storm uproots trees, strews debris throughout state

St. Louis Park City Council votes to bring back Pledge of Allegiance to meetings

Trump defends tweets about 4 congresswomen of color

Duluth council asks EPA to reconsider use of dangerous chemical

Hot, humid day expected Tuesday

Apollo 11 astronauts returning to launch pad 50 years later

Advertisement