(EXCLUSIVE) Cavs Player Richard Jefferson Continues Legal Battle With Ex Manager

Richard Jefferson

Richard Jefferson

theJasmineBRAND.com exclusively reports, Cleveland Cavaliers star Richard Jefferson – fresh off winning the NBA championship– has headed back to court in his legal battle with his ex-business manager. He is demanding the FBI be ordered to turn over vital documents and recordings pertaining to the case so he can prove the former manager allegedly stole millions from him.

Here’s the latest: July 1st, Jefferson return to court and demanded the judge order the FBI to produce documents and recordings to help him present his case against his former business manager. He explains back in March 2015, the FBI informed him he was a victim in a securities fraud investigation they had opened. Jefferson explains he has repeatedly asked for copies of documents pertaining to their investigation but they shut him down every time.

Due to them not providing him any documentation of their case, he has been unable to obtain relevant evidence including the FBI’s recorded phone call with Kritza.

Jefferson says his lawyers have submitted numerous requests to the FBI but they have turned them down for various reasons. He explains the documents the FBI have in their possession will help him resolve key factual disputes in the lawsuit.

The NBA star is demanding the judge order the FBI to hand over all documents and recordings in their possession that they have related to his ex-business manager, so he can prove to the court he didn’t take out that loan and shouldn’t be held liable for the unpaid debt.

Richard Jefferson and ex Kesha Nichols (formerly of Basketball Wives Miami)

Richard Jefferson and ex Kesha Nichols (formerly of Basketball Wives Miami)

Here’s the backstory:  Jefferson was sued by Western Alliance Bank last year who accused him of taking out a 500k loan and refusing to pay it back. The NBA star informed the bank he never took out the loan and demanded documents proving he signed for the loan.

The NBA star responded and counter-sued his ex-business manager Theodore Kritza — who worked with him from 2004- 2014 . He claimed that when he was trying to purchase a home he first became aware of the Western Alliance loan taken out in his name.

He accused his ex-manager of deceiving him, defrauding him and violating the duty to provide loyalty to him and demanded 500k in damages.

Jefferson also said he was a victim of fraud by his ex-manager and lost over 2 million dollars. He claimed he discovered the fraud back in 2013 and informed not only his bank but the FBI. The feds then came to his aid and had him call Kritza and listened in on the phone call where Jefferson said he got his ex-manager to admit that he used the line of credit from the bank without Jefferson’s permission.
The NBA star says that during the phone call, his ex-manager broke down in tears, admitted he stole the money and made mistakes and kept trying to make deals with the cash but they all kept falling apart. Jefferson says he asked for forgiveness and asked if he could make amends.
He claimed the FBI investigation is still pending and during the time of the investigation he was slapped with the lawsuit by Alliance Bank and following being sued he attempted to get the recorded call and other evidence collected but was shut down by the FBI due to the ongoing investigation.

Jefferson said he wasn’t responsible for taking out the loan and demanded the suit against him be dismissed and he not be on the hook for anything. The bank didn’t buy his argument and wanted the court to order him to pay back the loan ASAP.

Then back in December, the federal court judge came back with his decision and ordered Jefferson to pay a total of $451,524.37 to Western Alliance Bank for the unpaid balance left on the loan. He also ordered him to pay $83,604.13 in interest on the loan and other court costs including attorney fees.

Jefferson is currently appealing the decision but that didn’t stop the bank from seizing assets in his bank account. The bank seized $554,572.61 from the NBA star’s Wells Fargo account and it was revealed he had over $11 million in the account. It’s possible that if he wins his appeal the money could be returned if ordered by the court.


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Authored by: TJB Writer