Former WWE superstar Ted DiBiase Jr has been found not guilty in a fraud case in Mississippi after he was accused of purchasing a home and a boat with illegally obtained funds.
The son of ‘Million Dollar Man’ Ted DiBiase Sr was acquitted by a jury in the Magnolia State and avoided a maximum sentence of 185 years in prison.
The younger DiBiase was 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.
‘Seven years of being slandered and made to be something that is completely false, tore my family apart,’ DiBiase Jr told reporters after the verdict.
‘But we’re strong. I’m so thankful that it’s over.’
The charges DiBiase faced were connected to the Mississippi welfare fraud scandal that also allegedly involved Hall-of-Fame quarterback Brett Favre.
Former WWE superstar Ted DiBiase Jr was acquitted of charges in a Mississippi fraud case
DiBiase Jr (seen in 2012) was accused of stealing funds to purchase houses and boats
DiBiase Jr wrestled in the WWE from 2007 until 2011 (seen with Shawn Michaels in 2009)
Favre was never arrested or charged in the case and has denied all wrongdoing.
As reported by AL.com, DiBiase’s brother Brett, a fellow ex-wrestler, has already pleaded guilty to state and federal charges stemming from the case.
DiBiase Jr was accused of purchasing a $1.4million home as well as a $55,000 boat, a $34,000 tractor and a $40,000 truck by using ‘sham contracts’ to take funds earmarked for social services.
The 43-year-old DiBiase Jr, who competed in the WWE from 2007 to 2013, previously pled not guilty at his arraignment hearing.
He was facing up to 20 years in prison on each count of wire fraud, as well as ten years for each count of theft and money laundering and five years for conspiracy.
The scandal has also engulfed his father, Ted DiBiase Sr (R) and NFL legend Brett Favre (L)
It is alleged that DiBiase’s companies secured federal funds from the Emergency Food Assistance Program and Temporary Assistance for Needy Families programs.
These funds were then allegedly ‘misappropriated for their own use and benefit.’
His father, DiBiase Sr, and Favre were sued by the state of Mississippi to recover some of the lost money.
Like Favre, DiBiase Sr denies all wrongdoing. Last year, he filed a defamation lawsuit against Mississippi State Auditor Shad White.
