*A judge has ordered NBA star Richard Jefferson to pay over 625k for a bank loan that the baller claims he never took out. As theJasmineBRAND.com reports, Jefferson has lost his legal battle over a 500k bank loan, in which he accused his former manager of taking out without his consent.
Jefferson was sued by Western Alliance Bank last year who accused him of taking out a 500k loan and refusing to pay it back. He claims he only became aware of the loan while he was attempting to purchase a home and was notified of the Western Alliance loan taken out in his name. He insisted that he never signed for the loan and demanded bank documents proving otherwise.
Richard counter-sued his ex-business manager, Theodore Kritza — who worked with him from 2004-2014. He accused Kritza of deceiving him, defrauding him, and demanded 500k in damages. Jefferson also said that his fraudulent ex-manager caused him to lose over 2 million dollars.
Jefferson said he contacted the FBI once he discovered the fraud back in 2013. The Feds worked his case, which included recording a telephone call between Richard and Kritza, during which the ex-manager tearfully admitted “that he used the line of credit from the bank without Jefferson’s permission.”
During the FBI investigation, Jefferson was hit with a lawsuit by the bank, and he attempted to get the phone recording and other evidence submitted to support his claim of innocence but was shut down by the FBI due to the ongoing investigation.
The bank didn’t buy Jefferson’s denial of responsibility, and a judge dismissed his request to throw out the case. The court agreed with the bank and on December 18, Jefferson was ordered to pay back a total of $451,524.37 to Western Alliance Bank for the unpaid loan balance. He was also ordered to pay $83,604.13 in interest and other court costs including attorney fees. The judge dismissed all claims that Jefferson filed against West Alliance.