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Tim Duncan gives statement in sentencing of ex-financial adviser

Sentencing of Charles Banks to resume Wednesday

SAN ANTONIO – Former San Antonio Spurs superstar Tim Duncan gave a statement Tuesday in the sentencing hearing of his former financial adviser, Charles A. Banks IV.  

Banks was expected to be sentenced in federal court in San Antonio in a multimillion-dollar federal wire fraud case. 

However, after hours of testimony, the judge recessed the court until Wednesday morning. Banks faces up to 20 years in federal prison. 

Duncan prepared a statement that was read by his attorney inside the courtroom.

The statement alluded to Duncan playing 19 years in the NBA and sacrificing his body to secure a future for his family only to feel embarrassed that someone took his money. 

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The statement added Duncan hated the thought of Banks doing the same thing to someone in the future.

Duncan respectfully asked for the court to not give Banks a light sentence.

Related: Tim Duncan issues statement following guilty plea by former financial adviser

Banks pleaded guilty in April when he admitted in court that he got Duncan to guarantee a $6 million loan for sports entertainment company Gameday Entertainment in June 2013, even though the company was failing.

Duncan's financial adviser testified Tuesday that Duncan gave banks access to $24.1 million and only received around $7 million in return.

The adviser also testified the extent of Banks' financial improprieties were discovered during Duncan's divorce trial.

The hearing also involves another former NBA superstar, Kevin Garnett, who was in court along with Duncan.

Garnett was an investor in Gameday Entertainment and also involved in Duncan's $6 million loan.

Manu Ginobili, Gregg Popovich, R.C. Buford and Sean Elliott were all in court Tuesday in support of Duncan. 

Related: Former financial adviser for Tim Duncan faces criminal, civil charges

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