Former WWE wrestler Theodore Marvin DiBiase Jr., son of wrestling legend Ted “The Million Dollar Man” DiBiase Sr., has been accused of using millions of dollars meant to help needy families in Mississippi to buy himself a boat, a car and a home. , according to the newly opened Federal indictment.
Prosecutors charged DiBiase Jr., 40, with conspiracy to commit wire fraud and theft in connection with programs receiving federal funds, as well as multiple counts of wire fraud and theft related to programs receiving federal funds and four counts of money laundering, prosecutors said.
DiBiase Jr. and others allegedly used federal funds from the Emergency Food Assistance Program (TEFAP) and the Temporary Assistance for Needy Families Program (TANF) “for their own personal use and benefit,” according to prosecutors.
The plaintiffs allege that after the federal funds were released, the Mississippi Department of Human Services (MDHS) directed former CEO John Davis of MDHS to subcontract the funds to the nonprofits Family Resource Center of North Mississippi Inc (FRC), operated by Christie Webb, and the Community Education Center of Mississippi (MCEC), which is administered by Nancy New.
Davis then allegedly directed Webb and New to “award fictitious contracts to various individuals and entities allegedly providing social services, including at least five sham contracts awarded to DiBiase Jr., Priceless Ventures LLC, and Familiae Orientem LLC,” prosecutors said.
DiBiase Jr. allegedly used that federal money to purchase a car and boat, and make a down payment on a home, among other things, according to prosecutors.
If convicted, DiBiase Jr. faces a crime. Up to five years in prison for conspiracy, up to 20 years in prison for each count of wire fraud, and up to 10 years in prison for each count of theft related to programs receiving federal money and each number of money laundering operations, prosecutors said.
The indictment is the latest update on Mississippi welfare scandal That invades retired NFL quarterback Brett Favre.
In February, Favre filed lawsuits accusing the state auditor and two sportscasters of defaming him in public discussions about the scandal.
Favre does not face criminal charges in the Mississippi welfare scandal, but he is among more than three dozen people or companies being sued by the state to try to recover money lost through the Temporary Assistance Program for Families in Need.
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