Charles Banks, owner of wineries, indicted on fraud

Charles Banks, a former owner of Screaming Eagle whose current wine and hospitality holdings have been pegged at $200 million, was indicted in federal court today on two counts of fraud. Banks, 48, is accused of defrauding Tim Duncan, the NBA legend, of $20 million in investments.

Yahoo sports has the story:

The indictment was unsealed Friday in a San Antonio courtroom, where Banks surrendered himself and was led into the courtroom in handcuffs. Banks surrendered his passport and a $1 million bond was issued for his release pending trial. He is facing a potential maximum sentence of 25 years in federal detainment.

The FBI has been investigating Banks for a year. The SEC later filed suit against Banks in Atlanta where he resides accusing the financial adviser of defrauding investors.

Banks has amassed a global portfolio of wines under his Terroir Capital that includes Mayacamas of Napa Valley, Qupé of Santa Barbara and Wind Gap of Sonoma. The company was a founding partner in Sandhi, though that stake was sold earlier this year.

Banks had previously denied wrongdoing, telling Forbes in January, “We are proceeding aggressively to have [Duncan’s] claims litigated.” Banks was released after posting $50,000, five percent of the $1 million bail set in his case.

* “Feds charge — and sue — Tim Duncan’s former financial adviser” Mysanantonio.com
* The SEC complaint

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4 Responses to “Charles Banks, owner of wineries, indicted on fraud”


  1. But he’s a Church man.


  2. “But he’s a Church man.”
    Then of course he must be innocent:-)


  3. I know Charles Banks well. Amazing, generous, and supportive figure in the community. Why don’t we wait and see how this pans out before judging.


  4. OH OK


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