Sacramento Kings CRO Jeff David siphoned off $13.4 million from NBA club

Sacramento Kings' former Chief Revenue Officer (CRO) Jeff David is currently serving time in federal prison. reason? Over course of a dece as CRO of Sacramento Kings, Jeff David siphoned more than $13.4 million from NBA team, according to a report. He used to funnel funds from Sacramento Kings diverted TO 'Sacramento Sports Partners LLC', a company Jeff David founded in 2009.

Also Re | NBA: LA Lakers Star Anthony Davis Mocks Russell Westbrook's Fashion Style

Sacramento Kings CRO's multi-million dollar scam

Jeff David n used se funds to buy and remodel beachfront properties in Sourn California also used it to pay for a private jet membership and pay off credit card bills. His siphoning scheme came to fore when David chose to take up role of CRO for Miami Heat in 2018. During move from Sacramento Kings to Miami Heat, report says that Jeff Davis received a call from his former co-worker who worked in Human Resources (HR) department as Senior Vice President (SVP). Sacramento Kings' SVP of HR came across an old file of David's labeled "TurboTax" that referenced company he founded, Sacramento Sports Partners. She n asked David wher se files were important and if that's case, should files go to somebody else. However, what seemed like an incuous inquiry turned out to unravel Jeff David's scheme. 

Also Re | Young Lakers Fan Shoots Like Stephen Curry; Breaks Internet With Dazzling Shooting Skills

When Jeff David returned as CRO of Sacramento Kings in 2011, after a brief stint with NBA league office, Kings gave David an automy with his affairs — one that he would exploit soon after his return. His first siphoning came to light when Van Wagner, a New York-based sports marketing firm, approached Sacramento Kings to broker a courtside sign for Peak Sport, a sportswear company. David answered call, and reportedly settled deal. When time came to bill Van Wagner, David asked company to make three payments totaling about a reported $30,000, to Sacramento Sports Partners (SSP). 

Also Re | LeBron James Becomes First Player In History To Score Triple-double Against Every NBA Team

This was first step in David's multi-million dollar siphoning. Jeff David reportedly received a salary of $30,000 a month and also received a yearly bonus. However, over course of a dece as CRO of Sacramento Kings, Jeff David h siphoned over $13 million from Kings, reveal FBI investigations. 

Also Re | Clippers' Paul George Warns NBA Rivals Post Kawhi Leonard Return: 'We Will Pick You Apart'