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.


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.

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Tommy Wiita

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