A former WWE wrestler, Ted DiBiase, could spend up to 45 years in prison and face a fine of up to $1 million on multiple federal charges of fraud and theft of funds. The son of a Hall of Famer was arrested in 2023.
Official documents revealed that DiBiase allegedly conspired with John Davis to fraudulently obtain federal funds intended for low-income families. Prosecutors accuse the 42-year-old American of channeling those funds through two companies he controlled.
DiBiase also faces four counts of money laundering, in addition to collecting massive payments under false promises. The former wrestler received nearly $3 million during his operations.
Prosecutors indicated that DiBiase used the funds to indulge in a luxurious lifestyle after his departure from WWE. The former World Tag Team Champion purchased a house, a boat, and a luxury vehicle. In addition, the Louisiana native has suspicious transfers recorded for amounts approaching half a million dollars.
During his arrest in April 2023, DiBiase tested positive for Adderall and marijuana. His defense sought to justify the presence of both substances in his body, first claiming that the marijuana was ingested in THC gummies and hemp oil. He uses Adderall to combat his attention deficit disorder.
He will appear in court on August 26. Jury selection will be on August 19.