NEW YORK (AP) - The founder of an investment firm that handled the National Basketball Players Association's investments and finances has been sentenced to 18 months in prison for a $3 million fraud.
Joseph Lombardo, of Gates Mills, Ohio, was sentenced Tuesday in Manhattan. He's the founder and former chief executive of Prim Capital Corp.
Lombardo pleaded guilty in November to mail fraud and conspiracy to obstruct justice. The crimes were related to his firm's work on $250 million of the union's assets from 2001 until 2013.
Lombardo was arrested in April 2013. Prosecutors said he created a fake contract with the basketball players who entrusted him to manage their union's assets. They say he then lied to a federal grand jury about his actions and told others to do the same.

Top NBA Public Bets

NBA Top Stories

Thumbnail Fultz to go to the 76ers? The Boston Celticshave traded out of the No. 1 pick. The Philadelphia 76ersnow hold the top pick once again. Is it a slam dunk who they will take in the NBA...
Thumbnail 2018 NBA Finals Odds After dominating the 2017 NBA Playoffs, will anyone keep the Golden State Warriors from winning the NBA Finals again...
Thumbnail Stephen Curry Game 5 Props Will Stephen Curry bounce back from a poor showing in Game 4 when the Golden State Warriors host the Cleveland Cavaliers in Game 5 of the NBA Finals tonight at 9PM...
Thumbnail Will James get another triple-double? Will LeBron James add to his NBA Finals record of nine triple-doubles when the Cleveland Cavaliers take on the Golden State Warriors in Game 5 of the NBA Finals...
Thumbnail NBA Finals Game 5 Pick Can the Golden State Warriors finish off the Cleveland Cavaliers when the NBA Finals moves back to California for Game 5 tonight at 9PM...

NBA Team Pages