It seems like father, like son when it comes to former WWE star Ted DiBiase Jr. and his legendary WWE Hall-of-Fame dad and their involvement in a fraud scheme that swindled millions of dollars away from needy citizens of Mississippi.
Several famous athletes from the state of Mississippi have found themselves in some serious trouble over the last six months. The most notable of them is Hall-of-Famer, and Green Bay Packers icon Brett Favre.
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The legendary NFL quarterback has made headlines since last year after it was revealed that he was involved in a scheme that defrauded millions from Mississippi’s welfare fund. In the case of Favre, he was paid for services he never delivered and received funding for a new volleyball facility at his alma mater Southern Mississippi, from a fraudulent non-profit organization.
The non-profit was the middleman as they were getting their money directly from the same welfare fund that was meant to help feed needy individuals in the poorest state in the union. As the investigation and case have developed in recent months, more famous individuals have been snagged up in the scandal.
One of the other notables is WWE legend “Million Dollar Man” Ted Dibiase. The 1980s and 1990s wrestling great is now a minister in the state and his Heart of David Ministries allegedly received $1.7 million in welfare money “under (the) guise of providing ‘leadership training.’” Well, it seems his success in bilking money out of Mississippi’s needy was also a worthwhile idea for his son, former WWE star Ted DiBiase Jr.
On Thursday, official charges were levied on the “Million Dollar” son for fraud and theft of federal funds. DiBiase Jr. reportedly received federal funds from the infamous non-profit and others involved with the scheme that went to his companies, Priceless Ventures LLC and Familiae Orientem LLC.
“DiBiase is charged with one count of conspiracy to commit wire fraud and to commit theft concerning programs receiving federal funds, six counts of wire fraud, two counts of theft concerning programs receiving federal funds, and four counts of money laundering. If convicted, he faces a maximum penalty of five years in prison for the conspiracy count, a maximum penalty of 20 years in prison for each wire fraud count, and a maximum penalty of 10 years in prison for each count of theft concerning programs receiving federal funds and for each count of money laundering.”
– Statement on Ted DiBiase Jr. indictment
At the height of his WWE career, DiBiase Jr. was a part of the “Legacy” faction in the company with other second-generation performers in WWE great Randy Orton, and current superstar Cody Rhodes.