Former WWE wrestler Theodore Marvin DiBiase Jr. was charged with using millions of dollars intended to help needy families in Mississippi for his personal use, according to a newly unsealed indictment.
Prosecutors say that DiBiase and several others allegedly used fraudulently obtained federal funds from organizations including The Emergency Food Assistance Program and the Temporary Assistance for Needy Families program for their personal use and benefit.
Prosecutors allege that, after federal funds were issued to the Mississippi Department of Human Services, former Executive Director John Davis directed the funds to nonprofit organizations Family Resource Center of North Mississippi Inc., and Mississippi Community Education Center, which were operated by Christi Webb and Nancy New.
It's alleged that Davis then directed Webb and New "to award sham contracts to various individuals and entities purportedly for the delivery of social services, including at least five sham contracts that were awarded to DiBiase's companies, Priceless Ventures LLC and Familiae Orientem LLC," the court documents state.
Prosecutors allege that DiBiase and his companies were awarded millions of dollars in federal funds for social services that were not provided. Instead, DiBiase allegedly used these federal funds to buy a boat and for a down payment on a house, among other things.
DiBiase is charged with one count of conspiracy to commit wire fraud and to commit theft concerning programs receiving federal funds, six counts of wire fraud, two counts of theft concerning programs receiving federal funds, and four counts of money laundering.
If convicted, DiBiase faces a maximum penalty of five years in prison for the conspiracy count, a maximum penalty of 20 years in prison for each wire fraud count, and a maximum penalty of 10 years in prison for each count of theft concerning programs receiving federal funds and for each count of money laundering.
Zoe Papadakis ✉
Zoe Papadakis is a Newsmax writer based in South Africa with two decades of experience specializing in media and entertainment. She has been in the news industry as a reporter, writer and editor for newspapers, magazine and websites.
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