The charges are related to allegations that he inappropriately secured a $6 million loan guarantee from San Antonio Spurs superstar Tim Duncan for a failing sports entertainment company. Banks will also have to pay $7.5 million in restitution.
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Charles Banks IV has been sentenced to four years in jail over wire fraud charges. So reports KSAT.
The charges are related to allegations that he inappropriately secured a $6 million loan guarantee from San Antonio Spurs superstar Tim Duncan for a failing sports entertainment company. Banks will also have to pay $7.5 million in restitution.