SACRAMENTO COUNTY, Calif. — A former Sacramento Kings executive who pleaded guilty to wire fraud and aggravated identity theft is out of prison early.
According to the Federal Bureau of Prisons, Jeffrey R. David was released in early August after being sentenced to serve seven years in prison back in June 2019. He was at FCI Morgantown in West Virginia.
David was once the Chief Revenue Officer for the Kings, and he was responsible for negotiating sponsorships and marketing agreements with companies.
According to the United States Attorney’s Office for the Eastern District of California, he defrauded those companies between fall 2012 and summer 2016 by telling them payments were going to the Kings when they were really going to bank accounts only he controlled.
The Kings did not know about the payments or LLC connected to the bank accounts. David stole about $13.4 million from five companies in California and elsewhere.
He used the money to purchase and remodel properties in Southern California, in addition to personal expenses like sending checks to family, a private jet membership and credit card bills.
