Kevin Garnett Reportedly Settles $77M Lawsuit Against Former Accountant
Former NBA star Kevin Garnett has reportedly dropped his $77 million lawsuit against his former accountants, according to a report by The Blast. Garnett, 43, filed suit against Michael Wertheim in September of 2018, alleging that his former accountant aided wealth manager Charles A. Banks IV in taking approximately $77M of KG’s money over the years.
The Blast reports that Garnett and the accounting firm Welenken CPAs ultimately reached a deal that will bring the lawsuit to a close, although the terms were not disclosed.
“According to court documents obtained by The Blast, Garnett and the accounting firm Welenken CPAs have reached a deal that will end the lawsuit. According to their deal, all claims against the other will be dismissed and the case will be officially closed.”
According to TMZ, Garnett’s lawsuit stated that Wertheim and Banks urged the NBA legend to live on a budget, just so they could have more of his money to play around with.