Source: Frazer Harrison/WWE 2011 / Getty
One of wrestling most enigmatic personalities will have to clear his name in court of law. Ted DiBiase Jr. is charged with stealing millions of dollars from a welfare fund.
As spotted on Yahoo Entertainment! the sports figure has some very serious charges looming over his head. On Thursday, April 20 the former WWE talent was hit with a federal indictment. “Theodore Marvin DiBiase Jr., 40, of Madison, along with co-conspirators John Davis, Christi Webb, Nancy New, and others, are alleged to have fraudulently obtained federal funds – including from The Emergency Food Assistance Program (TEFAP) and the Temporary Assistance for Needy Families (TANF) program – that they misappropriated for their own personal use and benefit” the statement from The Department of Justice read.
John Davis reportedly served as the executive director of the Mississippi Department of Human Services. MDHS was issued federal funds that were then reallocated to non for profit organizations that were run by Christi Webb and Nancy New. They in turn awarded bogus contracts to DiBiase’s company Priceless Ventures LLC. According to the paperwork he is charged with “one count of conspiracy to commit wire fraud and to commit theft concerning programs receiving federal funds, six counts of wire fraud, two counts of theft concerning programs receiving federal funds, and four counts of money laundering.”
If found guilty Ted DiBiase Jr. faces a maximum penalty of five years of prison for conspiracy and a maximum of 20 years on the wire fraud. He has pled not guilty to all the charges. When asked by WAPT-TV for a comment he simply replied “Jesus loves you, brother. God bless you, man. That’s it.”
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WWWE Star Ted DiBiase Jr. Charged With Finessing Millions From Welfare Fund was originally published on hiphopwired.com
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