WWE: Ted DiBiase Jr charged with stealing millions in federal funds


Ted DiBiase Jr spent six years with the corporate till 2013 (Image: WWE)

Former wrestler Ted DiBiase Jr has been charged for stealing ‘tens of millions of {dollars} in federal safety-net funds supposed for needy households and low-income people’.

The 40-year-old ex WWE star, whose actual title is Theodore Marvin DiBiase Jr and is the son of Corridor of Famer Ted DiBiase, has been charged with quite a few expenses as confirmed by the USA Division of Justice.

In a press launch, the DOJ cited court docket paperwork saying that DiBiase Jr has allegedly ‘fraudulently obtained federal funds’.

It’s claimed they ‘misappropriated’ the funds – together with from each The Emergency Meals Help Program (TEFAP) and the Short-term Help for Needy Households (TANF) programme – for his or her ‘personal private use and profit.

The DOJ’s launch reads: ‘DiBiase is charged with one depend of conspiracy to commit wire fraud and to commit theft regarding applications receiving federal funds, six counts of wire fraud, two counts of theft regarding applications receiving federal funds, and 4 counts of cash laundering.’

If the former tag group champion is convicted, he may face ‘a most penalty of 5 years in jail for the conspiracy depend’, with ‘a most penalty of 20 years in jail for every wire fraud depend’.

His father is WWE Corridor of Famer, ‘The Million Greenback Man’ Ted DiBiase (Image: WWE)

He may additionally face ‘a most penalty of 10 years in jail for every depend of theft regarding applications receiving federal funds and for every depend of cash laundering’.

In line with federal prosecutors, DiBiase acquired funding from a nonprofit company which was allocating tens of millions of federal {dollars} supposed for poor ladies and youngsters.

The indictment declares the funding a ‘sham’ association with federal security internet funds diverted for the non-public use of DiBiase Jr, the state’s former welfare director and ‘others recognized and unknown to the grand jury’.

It’s stated ‘tens of millions of {dollars}’ had been supplied for ‘social providers that DiBiase didn’t present and didn’t intend to offer’. It’s alleged that DiBiase Jr used the funds ‘to purchase a automobile and a ship, and for the down cost on the acquisition of a home, amongst different expenditures’.

Final month, his brother Ted ‘Teddy’ DiBiase Jr. pleaded responsible to 1 depend of conspiracy to defraud the federal government in reference to the scandal.

DiBiase Jr – who spent six years with WWE after signing in 2007 – has not commented on the costs.

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