SAN FRANCISCO (AP) – The Sacramento Kings say federal authorities are investigating a former top executive after team officials uncovered suspicious financial transactions.
The Kings said Thursday that the FBI and federal prosecutors took formal action Monday to recover the money former chief revenue officer Jeffrey David is suspected of embezzling. David holds the same position with the Miami Heat after leaving the Kings in June.
The Heat said they are cooperating with the investigation and have put the 44-year-old on leave.
David didn’t respond to an email request for comment.
No charges have been filed. The U.S. Attorney’s office in Sacramento declined to comment Thursday.