Many NBA fans will remember Gilbert Arenas for his three All-Star appearances, as well as for his highly publicized issues off the court. It turns out, however, that Arenas was the victim of embezzlement scheme perpetrated by his longtime personal assistant. On Wednesday, a federal jury in Orlando found John A. White guilty on 11 counts of wire fraud, and 4 counts of filing a false tax-related document.
Guilty of Eleven Counts of Wire Fraud
According to the prosecution, White stole more than $2 million from Arenas from 2008 to 2011, during which time he served as Arenas' personal assistant. Evidence in the case suggests that White made unauthorized bank transfers from Arenas' bank account into three separate accounts which White controlled. The court records show that the funds were used for a variety of expenditures, including a Ferrari and a Range Rover. They were also used to pay the mortgage for the home he shared with his wife in Windermere, Florida.
Guilty of Four Counts of Filing False Tax-Related Documents
Although he was buying expensive cars and owned a home in a fairly wealthy area, White and his wife never reported more than $60,000 of gross income in their joint tax filings. This triggered an investigation by the IRS' Criminal Investigation division, with assistance from the United States Secret Service.
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White won't be sentenced until November 19th, and he faces some incredibly serious penalties. Each count of wire fraud carries a maximum penalty of 20 years in prison, and the false tax-document charges carry a maximum penalty of 3 years each. While it's unlikely that he will be sentenced to the full 232 year sentence, White will probably spend a large portion of his life behind bars.
White-collar and financial crimes are prosecuted extremely aggressively by the federal government, and these cases are generally investigated by federal agencies such as the FBI, Secret Service, or IRS. For this reason, it is crucial to contact an experience Los Angeles criminal defense attorney if there is even the possibility of white-collar charges being filed against you.
If you're accused of white-collar crimes, you need aggressive defense. Call our firm at (310) 904-6331 today.