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His father famously said that “Everybody’s Got A Price,” and it’s apparently is true.
Former WWE wrestler Ted DiBiase Jr. has been charged with multiple counts of fraud and theft related to stealing federal funds in connection with a wider welfare scandal involving NFL Hall of Famer Brett Favre.
DiBiase Jr., who is the son of WWE Hall of Famer ‘Million Dollar Man Ted Dibiase,’ allegedly received millions of dollars from Mississippi non-profit organizations that were supposed to be used for disenfranchised women and children, according to federal prosecutors.
The funds in question were part of Mississippi’s Emergency Food Assistance Program and the Temporary Assistance for Needy Families Program. However, DiBiase reportedly took the money and used it on lavish gifts for himself through “sham contracts” that were awarded to his companies.
“DiBiase allegedly used these federal funds to buy a vehicle and a boat, and for the down payment of a house,” prosecutors said on Thursday.
PART OF A LARGER INVESTIGATION
The indictment is part of a larger welfare scandal probe that also involves former NFL quarterback Brett Favre.
Although Favre is not facing criminal charges, he is being sued by the state in order to recover misappropriated funds. The Mississippi Department of Human Services claims that over $77 million went missing, with Favre being tied to $8 million of it. Favre has denied any accusations, but did pay back $1.1 million that he received for a speaking engagement that never happened. He has also filed various defamation lawsuits including one against broadcaster and former NFL kicker Pat McAfee.
Meanwhile, DiBiase Jr. would probably much rather be in the ring against Hulk Hogan, Andre The Giant and the Ultimate Warrior with his hands tied behind his back than be in his current predicament.
DiBiase Jr. faces a 20-year prison sentence for each of the various wire fraud counts, as well as 10 years for each count of theft through federal funds and money laundering.
That’s a 1-2-3 pin count on his future.