Des Moines, IA, United States (AHN) – The federal court found former NBA player Rumeal Robinson guilty on multiple counts of fraud, bank fraud and bribery and giving false statements to a financial institution in Central Iowa, multiple sources reported Wednesday.
Robinson, an NBA player for eight seasons (1990-1997), allegedly received business loans after conspiring with his girlfriend and loan officer Brian Williams.
The former Michigan star obtained a $377,000 loan to start a realty business in his home country of Jamaica, but Robinson distributed $100,000 to Williams as part of the conspiracy agreement.
Robinson and his girlfriend allegedly spent the remainder of the loan on a condominium, furniture and fixtures, including a high-definition plasma screen TV.
Central Iowa prosecutors claimed Robinson gained an addition business loan worth $80,022 from Community State Bank in 2005, but he spent large chunk of it on luxury expenses
Robinson was also guilty of using the names of his girlfriend, the mother of his business partner and mother to prevent the bank from discovering his previous obligations.
The federal government asserted Robinson received over $700,000 in connection to his luxury development business in Jamaica, but he failed to repay any of the loans.
Robinson, 43, will serve 11 counts of bank fraud and bribery and falsification – each one has maximum penalty of 30 years imprisonment and a $1,000,000 fine.
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