Tim Duncan is undoubtedly one of the most respected names in the NBA, especially when discussing the greatest power forward of all time. Whether it’s physicality, skill, longevity or leadership, the San Antonio Spurs legend is the perfect template.
Duncan is not the most outspoken person in the public eye, and he chooses his words wisely. That said, he’s one of the key figures in the locker room and behind the scenes, as his teammates have proven time and time again – it’s no wonder he’s happy coaching for Gregg Popovich.
Duncan followed a simple, direct approach in life, avoiding conflict and controversy in most situations. However, he never expected that his honest and sincere approach would cost him over $20 million, courtesy of his financial advisor.
In 2015, the Spurs legend sued Charles Banks for more than $1 million, accusing him of providing faulty financial advice and receiving personal benefits.
“Luckily, I’ve had a long career and made a lot of money. It’s a lot of money, but it’s not going to change my life in any way. It’s not going to make any decisions for me,” Duncan said.
“I’m not a great speaker. I don’t go out and preach to people. I don’t go around trying to warn people…I’m a loyal guy. I’m a man of my word and I thought other people would do the same. But that’s not how it works in life,” The five-time champion added that he hopes the younger generation of athletes will learn from his experience.
Justice is finally served when Duncan is deceived by a trusted assistant.
According to ESPN in 2017, Banks was sentenced to four years in prison for defrauding Timme of millions of dollars. The disgraced financial adviser has pleaded guilty to wire fraud and been ordered to pay $7.5 million in restitution. Tim urged the harshest form of punishment.
“Judge Beery, you may not understand how difficult it is for me to be out in public in such a horrific way: as the poster child for a dumb athlete who had his money taken away by his financial advisor. I hate it and am embarrassed by it more than you can imagine…” Duncan said before sentencing in court.
“My greatest fear is that you’re going to give him a sentence that allows him to go out and tell everybody, as he’s been doing since pleading guilty, that he did nothing wrong, and he’s proven it by having little to no jail time. I respectfully ask you: Don’t do that,” he added.
Sadly, Duncan isn’t the only victim in this case, Banks also allegedly cheated on Minnesota Timberwolves legend Kevin Garnett.
