Tim Duncan is undoubtedly one of the most revered names in the NBA, especially when discussing the greatest power forwards of all time. The legend of San Antonio Spurs was the perfect model, both in terms of physical attributes, skill set, longevity or leadership.
Not the most vocal individual in the public eye, Duncan chose his words wisely. That said, he’s been among the leading voices in the locker room and behind the scenes, something his teammates have attested to time and time again — not surprising because he was a joy to coach for Gregg Popovich.
Duncan followed a simple and straightforward approach in life, staying away from conflict and controversy on most occasions. However, he could never have imagined that his honest and straightforward ways would cost him more than $20 million, courtesy of his financial advisor.
The Spurs legend sued Charles Banks for more than $1 million, alleging faulty financial advice and personal vested interests in 2015.
“Luckily, I’ve had a long career and I’ve made good money. This is a big deal, 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 man of speech. I’m not going to go out and preach to people. I’m not going to go on a circuit trying to warn people… I’m a loyal man. I’m a man of words, and I assumed other people would be like that. That’s not the case in life,” added the five-time champion, who hoped that the younger generation of athletes could learn from his experience.
Tricked by one of his trusted aides, justice eventually prevailed for Duncan.
According to a 2017 ESPN report, Banks was sentenced to four years in federal prison for defrauding Tim of millions of dollars. The tainted financial adviser, who pleaded guilty to wire fraud, was ordered to pay $7.5 million in restitution. Tim had encouraged the harshest form of punishment.
“Judge Biery, you may not understand how difficult it is for me to be in the public eye in this horrible way: as the poster child for a stupid athlete whose financial advisor took his money. I hate it and am embarrassed by it more than you can imagine…” Duncansaid before the court announced his sentence.
“My biggest fear is that you will give him a sentence that will allow him to go out into the world and tell everyone, as he has continued to do since his guilty plea, that he has done nothing wrong, and prove it by having very little prison time. I respectfully ask you: Don’t do that,” he added.
Unfortunately, Duncan wasn’t the only victim in this case, as Banks allegedly cheated on Minnesota Timberwolves legend Kevin Garnett as well.