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TED DIBIASE CRIMINAL CASE UPDATE

Ted DiBiase Jr.’s federal criminal trial continued yesterday with prosecutors presented forensic accounting testimony alleging the third generation star received more than $2.9 million in welfare-funded money from two Mississippi nonprofits between 2017 and 2019, according to WBLT Channel 3.

FBI forensic accountant Matthew Auckerman testified he analyzed over a dozen bank accounts tied to DiBiase and traced the funds from the Mississippi Department of Human Services through the nonprofits, the Mississippi Community Education Center and the Family Resource Center of North Mississippi, to DiBiase. Prosecutors highlighted a spike in deposits during that period, including more than $1 million received in a single day in May 2018.

According to the state, the money was intended to help needy families but was instead used by DiBiase for personal purchases, including a $1.4 million home, a boat, a tractor and a truck. Witnesses testified DiBiase never submitted expense or activity reports.  Key figures in the case,  including nonprofit leaders Nancy New and Christi Webb, and former DHS director John Davis, previously plead guilty. Davis testified he knew DiBiase was not fulfilling contract duties but continued directing funds to him, adding that DiBiase was aware the money was meant for welfare programs.

The defense argues DiBiase performed legitimate work under the contracts and was not required to document how the funds were spent.  The prosecution is expected to rest their case this week.

 

DiBiase is facing charges of conspiracy, wire fraud, theft, and money laundering. If convicted, he faces up to 20 years in prison per wire fraud count, 10 years per theft and money laundering count, and five years for conspiracy.

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