Former Sacramento Kings executive Jeffrey David under federal investigation for embezzlement

Ruben Hill
September 2, 2018

Jeffrey David, now the chief revenue officer of the Heat after operating in the same role with Sacramento, allegedly participated in a "sophisticated money-laundering scheme" that stole cash from the Golden 1 Credit Union ($9 million) and Kaiser Permanente Foundation ($4.4 million).

One ironic note about the potential charges facing David is that he was responsible for negotiating the Kings' $120 million naming rights deal with Golden 1 Credit Union.

Since being terminated from his position in Sacramento in June, David has accepted the same position with the Miami Heat in July.

While no charges have yet been filed either by the FBI or by federal prosecutors, both the Kings and the Heat have released statements in acknowledgement of the ongoing inquiry.

David is Chief Revenue Officer for the Heat, in charge of "local, regional, national and global business opportunities while overseeing the Corporate Sales and Service, Premium Seating and Service and the Ticket Sales departments".

"Last week, we alerted federal law enforcement to suspicious financial transactions involving a former Kings employee, Jeff David", the team said. The person spoke on the condition of anonymity because the person wasn't authorized to speak publicly about the investigation.

The Heat are fully aware of the investigation and have placed David on leave for now.

The Heat did issue a statement on the matter, but offered no additional comment. "Jeff David is on leave, pending the outcome of the investigation".

At the time of David's hiring, Heat president of business operations Eric Woolworth called him "supremely qualified" to help the franchise.

"We are aware of the situation involving Jeff David and have been in contact with the Kings and Heat organizations as well as law enforcement", National Basketball Association spokesman Mike Bass told USA Today.

David's Miami-based attorneys said he is cooperating with law enforcement.

The U.S. Attorney's office in Sacramento declined to comment and the team provided no other details.

Bradford Betz is an editor for Fox News.

Other reports by Click Lancashire

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