A federal grand jury in Texas is returning a two-count indictment for wire fraud against Charles Banks, a financial adviser who has been alleged to have mishandled over $20 million in investments of his ex-client, retired San Antonio Spurs All-Star Tim Duncan, according to reports.

Banks surrendered to federal marshals at the federal courthouse in San Antonio on Friday morning.

In a lawsuit filed in 2015, Duncan, a five-time NBA champion, alleged that Banks directed him toward multiple investments in hotels, wineries and beauty products despite not revealing Banks’ own financial conflicts of interests in the businesses.Court records and documents show that Banks had financial interests in the investments.

Duncan earned over $240 million in salary in his 19-year NBA career.

Duncan accused Banks of defrauding him on a $7.5 million loan to Gameday, a company that Banks maintained control over. Gameday also received a bank loan with what Duncan says he believed was his signature on a document that would get him $1.5 million in cash back and lower his guarantee exposure. Banks is alleged to have used that signature to increase Duncan’s guarantee exposure to $13.5 million at Comerica Bank instead of $6 million.

Banks has also been tied to Minnesota Timberwolves All-Star Kevin Garnett through his financial advisement.

The foregoing information is being provided by The White Law Group.  The White Law Group is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit http://whitesecuritieslaw.com.