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Wine Spectator: Wine Executive Charles Banks Sentenced to Four Years for Fraud

June 29, 2017

Wine executive Charles Banks has been sentenced to four years in federal prison for defrauding retired NBA star Tim Duncan of millions of dollars. U.S. District Judge Fred Biery also ordered Banks, a financial adviser and the founder of Terroir Life, which owns or manages nearly a dozen wineries in California, New Zealand and South Africa, to pay Duncan $7.5 million in restitution and serve three years of supervised release after he finishes his prison time. Wine Spectator has the full story.

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