Ex-NBA star Garnett sues ex-accountant for $77 million

Garnett, who began and ended his NBA career with the Minnesota Timberwolves
and also played for the Boston Celtics and the Brooklyn Nets, is suing
accountant Michael Wertheim and his firm, Welenken CPAs, for malpractice,
saying they enabled Charles Banks IV to swindle Garnett by way of businesses
in which they both held an interest.

Banks pleaded guilty in April 2017 to one count of wire fraud in swindling Tim
Duncan of millions. In June 2017, Banks was sentenced to four years in prison
and ordered to repay Duncan $7.5 million in restitution.

Garnett's lawsuit, which demands damages in excess of $77 million, contends
Wertheim "possessed actual knowledge that Banks was helping himself to
millions of dollars of Garnett's money and did nothing about it."

Mark Gaughan, Garnett's attorney, would not say why the lawsuit did not target
Banks as well.

According to the lawsuit, "Banks intentionally ... looted Garnett of his
earnings and assets for many years, including the many years that Welenken and
Wertheim provided accounting services to Garnett and his business interests."

The lawsuit was initially filed in Hennepin County District Court and moved
this week to U.S. District Court in Minneapolis.

In August 2017, in the wake of the resolution of Duncan's case against Banks,
Garnett's representatives obtained records of Welenken CPAs and Wertheim, who
had "provided accounting services to Banks, Garnett, and virtually all of the
businesses Garnett shared with Banks."

Further, Wertheim and Banks set spending limits and budgets for Garnett,
knowing all along that Banks was taking millions of dollars of Garnett's money
for his own use, according to the filing.

In August 2013, Garnett allegedly asked Banks to wire him $40,000 of his own
money, according to the lawsuit.

--Field Level Media