richard jefferson
*The Cleveland Cavaliers’ Richard Jefferson’s claims that his former business manager Ted Kritza defrauded him carry no weight with Kritza.

According to TheJasmineBrand.com, Kritza is calling BS on Jefferson with claims of his own stating that the athlete’s reckless spending is the cause of his financial situation.

Kritza’s counter claims conflicts with what Jefferson said about him being taken for $2 million, in addition to him playing a key role in an FBI operation to recover his money and catch the person responsible. For Jefferson, that person is Kritza.

In court documents, Jefferson claimed that Kritza took out a $2 million bank credit line under his name without his permission. Jefferson went on to point out the involvement of the FBI, which ended up investigating and getting Kritza to admit in a recorded phone conversation with Jefferson that he did take Jefferson’s money.

In Kritza’s eyes, Jefferson’s claims are untrue. In his response, Kritza mentioned that Jefferson is at fault in light of his unwillingness to take responsibility for his reckless spending. Kritza claims that in 2004, Jefferson signed his $76 million dollar contract and ended up buying million dollar homes and several luxury cars as well as spent $500,000 to renovate his home, donated $3.5 million to a school and lost $300,000 when he opted to not go through with a wedding. In addition, Kritza claims Jefferson lost $1.4 million in an online company, in addition to hundreds of thousands of dollars on personal expenses.

The court documents note that Jefferson agreed to help Kritza start a management company for athletes and loaned him $2 million dollars, according to Kritza.

However, Kritza claims that Jefferson had to take a salary cut in 2011 and also dealt with a loss of income with the lockout, TheJasmineBrand mentioned, adding that Jefferson got a new team of financial advisers who reviewed his finances.

According to Kritza, he provided all records and cooperated with the advisers.

Jefferson would later refuse the bank’s request to repay the loan, claiming he was a victim of fraud, despite him fully knowing about the loan he agreed to give Kritza, who claims that Jefferson went to the FBI in 2013.

Contrary to Jefferson’s version of his phone interaction with the feds, Kritza says he met with the FBI twice. Nevertheless, Kritza goes on to state that they haven’t had any progress in the case July 2014.

Overall, Kritza demands the continuation of his legal battle with Jefferson, as well as Jefferson not being allowed to avoid responsibility for the loan any longer.

To see the court documents pertaining to Kritza’s response to Jefferson’s case, click here.

richard jefferson headshot