A former Sacramento Kings executive was sentenced to seven years in federal prison Monday for embezzling more than $13 million from the NBA team.
Jeffrey David pleaded guilty earlier this year to defrauding companies like Kaiser Permanente and Golden One Credit Union between 2012 and 2016. He was the Kings' chief revenue officer at the time and siphoned millions of dollars from sponsorship agreements into his personal accounts.
Then, David used the stolen money to buy and remodel expensive Southern California real estate and private jet memberships, and to pay off credit card debt.
The government helped the Kings recover most of the stolen money.
A federal judge could have sentenced David to 22 years for fraud and forging the signatures.
He's scheduled to surrender in August to serve a seven-year sentence.