Former Sacramento Kings executive under investigation for allegedly using $13 million in sponsor money to buy beach property

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sacramento kingsSteve Yeater/AP

Former Sacramento Kings chief revenue officer Jeffrey David is under investigation by federal authorities for allegedly embezzling money from team sponsors.
David is suspected of using up to $13 million to buy beachfront property in Southern California.
No charges have been filed.
David now holds the same position with the Miami Heat.

SAN FRANCISCO (AP) — The Sacramento Kings said Thursday that federal authorities are investigating a former top executive after team officials uncovered suspicious financial transactions.

The Kings said the FBI and federal prosecutors took formal action Monday to recover 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.See the rest of the story at Business Insider

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