FORMER WWE star Ted DiBiase Jr has been charged with using millions of dollars raised for the needy to buy himself a boat, vehicle and house.
The 40-year-old, who is son of the legendary ‘Million Dollar Man’ Ted Dibiase, was once the world tag-team champion with Cody Rhodes as part of The Legacy led by Randy Orton after debuting in 2008.
But Dibiase decided to retire from professional wrestling in 2013 and went on to be a big success away from the ring as the vice president of business development for an insurance company.
However, he has now hit the headlines after a newly unsealed federal indictment confirmed prosecutors have charged him with conspiracy to commit wire fraud and to commit theft concerning programs receiving federal funds.
That is in addition to multiple counts of wire fraud, theft concerning programs receiving federal funds, and four counts of money laundering, according to prosecutors.
DiBiase Jr, real name Theodore Marvin DiBiase Jr, and others have allegedly used federal funds from The Emergency Food Assistance Program (TEFAP) and the Temporary Assistance for Needy Families (TANF) program in Mississippi “for their own personal use and benefit”.
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According to reports, prosecutors allege that after federal funds were issued to the Mississippi Department of Human Services (MDHS), John Davis, the former executive director, then directed MDHS to subgrant the funds to the nonprofit organisations Family Resource Center of North Mississippi Inc. (FRC), which is operated by Christi Webb, and Mississippi Community Education Center (MCEC), which is ran by Nancy New.
Prosecutors then said that Davis directed Webb and New to “award sham contracts to various individuals and entities purportedly for the delivery of social services, including at least five sham contracts that were awarded to DiBiase Jr.'s companies, Priceless Ventures LLC and Familiae Orientem LLC.”
DiBiase Jr then allegedly used these federal funds to purchase himself a vehicle and a boat, and also put a down payment for a house as well as other things.
Prosecutors said that the ex-WWE ace could be facing up to five years in prison for the conspiracy count.
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He then faces up to 20 years in prison for each wire fraud count, and potentially 10 years in prison for each count of theft concerning programs receiving federal funds and for each count of money laundering.
DiBiase Jr lives in Mississippi, Alabama, US, with his wife and two children and also served as a motivational speaker at schools.
He has also had a small stint in acting, starring in the WWE Studios 2009 straight-to-video movie The Marine 2.
He decided to leave the wrestling business after becoming a dad and not wanting to spend time away from his family on the road.
The ex-American Football ace – who used to play quarterback at school – was trained by eight-time NWA world champion Harley Race.
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