| Tim Duncan’s former financial advisor, Charles A. Banks IV, was sentenced Wednesday to four years in prison for defrauding the NBA star of millions of dollars in an investment deal gone sour, according to reports by the San Antonio Express-News. A U.S. District judge also ordered Banks to pay $7.5 million in restitution to the former San Antonio Spurs forward, who claimed to have lost more than $20 million on investments with Banks. “I just wanted you to own up, pay up and we’d move on. You wouldn’t, so now we’re here with this in front of a judge,” Duncan told Banks in court, according to the San Antonio Express-News.
Dallas FA Launches Independent RIA
Stephanie Sammons, a Dallas-based Certified Financial Planner, has launched her own independent firm, Sammons Wealth. The RIA, which custodies client assets with TD Ameritrade, provides comprehensive financial planning and investment management services, focusing on women and members of the LGBT community. Sammons herself is a 20-year industry veteran and the author of Linked to Influence, a former No. 1 best-selling business book on Amazon. "I launched Sammons Wealth to serve women who have financial resources and assets, but may not have the time nor inclination to manage the intricacies of their financial lives and goals," Sammons said in a statement. "Whether your retirement is going to be a period of reinvention, recreation, relaxation or some combination thereof, you need a comprehensive plan and a trusted partner to help you make that vision a reality."
Dali to be Dug Up
Surrealist icon Salvador Dali didn’t do anything conventionally during his life, and his estate is no exception. According to The Washington Post, a 60-year-old tarot reader, claiming to be Dali’s daughter, has successfully obtained a judicial order to exhume the artist’s body for a paternity test. Pilar Abel claims that Dali had a brief fling with her mother in the mid-1950s. Dali bequeathed his entire estate, worth hundreds of millions, to the Spanish government, but Abel may have a claim to some or all of it, depending how the cards fall. READ MORE OF THE DAILY BRIEF |
