How NBA executive Jeff David stole $13 million from the Sacramento Kings


Jeff, the former chief revenue officer of the Sacramento Kings , has taken the day off to move after landing a new role as CRO of the Miami Heat  His life is seemingly picture-perfect. He has an adoring wife of almost 10 years, three healthy children. And after two stints with the Kings spanning more than a decade — while helping secure hundreds of millions of dollars in arena sponsorships for the team — he has joined one of the NBA’s most respected organizations in an appealing, sun-drenched market.

On this Monday, walking through the Davids’ new front door is a dizzying procession of cable guys, utility workers and movers. Amid all of this, Jeff receives a phone call from a former co-worker with the Kings. Her name is Stacy Wegzyn, and she works in HR. Jeff last remembers sitting in her office in Sacramento just months earlier, being told that the Kings were going to eliminate his position. After a few pleasantries, she gets down to business. She tells Jeff she’s been going through his old files, and in doing so she found one labeled “TurboTax” that references an entity called Sacramento Sports Partners.

“I was just curious what that is and if those are documents that should go to somebody else,” Wegzyn says.

It’s a seemingly innocuous inquiry from an HR lifer. But it’s one that will dictate the rest of Jeff David’s life. If he knows that — or senses it — he doesn’t let on.

“No, no, no,” Jeff responds. “That was a … man, this is taking me back. Maybe 2015?”

Wegzyn presses on. She asks Jeff whether the documents contain anything that anyone with the Kings needs to see. Jeff assures her they can trash them because the entity isn’t around anymore. A few minutes after he hangs up, his mother-in-law, Nancy, is standing at the front door when an FBI investigator appears, asking to speak to Jeff.

This agent, John Sommercamp, finds Kate and Jeff in the kitchen, where he tells them they might be the victims of fraud. He says he’s investigating a real estate title company. Jeff retreats to a back bedroom with Sommercamp, who wants Jeff relaxed and comfortable, a willing conversationalist. He does not believe Jeff is a victim. He strongly suspects he’s the perpetrator of a felony. The longer Jeff believes the inquiry is about the title company, the more likely it is that Sommercamp can extract the details he wants.

Sommercamp has questions. A year earlier, Jeff had purchased an $8 million home in Hermosa Beach, 20 miles southwest of Los Angeles. Sommercamp asks Jeff how he found the money to buy it. Jeff explains that he’s part of an investor group. Sommercamp wants to know who these investors are. Jeff volunteers that Golden 1 and Kaiser Permanente, two major sponsors with the Kings, are partners. The agent gets more specific, probing the mechanics of Sacramento Sports Partners’ formation.

But it’s when Sommercamp asks about how he obtained signatures from his partners in Sacramento that Jeff knows it’s time to suspend his cheery front.

Jeff David knows he’s cornered.

BACK AT THE rental house in Coconut Grove hours later, Kate logs on to her personal banking app to discover a balance of $0.00. No alert, no explanation. Just zeros.

Kate dials Bank of America, whose reps bounce her around the after-hours customer service labyrinth. She finally learns that there’s a freeze on the family account. Kate toggles over to the family’s secondary account at Wells Fargo. It, too, is frozen.

“Why is all of our money gone?!” she screams at Jeff, who seems oddly sanguine for a man who suddenly doesn’t have the liquidity to order takeout. “Does this have anything to do with those FBI agents today?”

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Published by CityFella

Big city fella, Born and Raised in the San Francisco Bay Area. Lived in New York (a part time New Yorker) for three years . I have lived in the Sacramento area since 1993. When I first moved here, I hated it. Initially found the city too conservative for my tastes. A great place to raise children however too few options for adults . The city has grown up, there is much to do here. The city suffers from low self esteem in my opinion, locals have few positive words to say about their hometown. visitors and transplants are amazed at what they find here. From, the grand old homes in Alkali Flats, and the huge trees in midtown, there are many surprises in Sacramento. Theater is alive is this area . And finally ,there is a nightlife... In.downtown midtown, for the young and not so young. My Criticism is with local government. There is a shortage of visionaries in city hall. Sacramento has long relied on the state, feds and real estate for revenue. Like many cities in America,Downtown Sacramento was the hub of activity in the area. as the population moved to the suburbs and retail followed. The city has spent millions to revive downtown. Today less than ten thousand people live downtown. No one at city hall could connect the dots. Population-Retail. Business says Sacramento is challenging and many corporations have chosen to set up operations outside the cities limits. There is vision in the burbs. Sacramento has bones, there are many good pieces here, leaders seem unable or unwilling to put those pieces together into. Rant aside, I love it here. From the trees to the rivers. But its the people here that move me. Sacramento is one of the most integrated cities in America. I find I'm welcome everywhere. The spices work in this city of nearly 500,000 and for the most part these spices blend well together. From Ukrainians to Hispanics and a sizable gay community, all the spices seem to work well here. I frequently travel and occasionally I will venture into a city with huge racial borders, where its unsafe to visit after certain hours. I haven't found it here. I cant imagine living in a community where there is one hue or one spice. I love the big trees, Temple Coffee House, the Alhambra Safeway, Zelda's Pizza, Bicyclist in Midtown, The Mother Lode Saloon, Crest Theater, and the Rivers. I could go on and I might. Sacramento is home.

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