According to PWInsider, former WWE Superstar Ted DiBiase Jr. was scheduled to stand trial on Tuesday, June 20 for charges of fraud and theft of federal welfare funds. However, the trial has now been delayed.
The report notes that The government filed the motion last month stating, “the discovery in this case is extensive and additional time is needed by both sides to review the case and to prepare for trial or negotiate a plea. The government submits that the ends of justice that will be served by taking such action outweigh the best interests of the public and the defendant in a speedy trial.”
DiBiase Jr. was charged this pat April with one count of conspiracy to commit wire fraud and to commit theft concerning programs receiving federal funds; six counts of wire fraud; four counts of money laundering; and two counts of theft concerning programs receiving federal funds. According to the court documents, DiBase Jr. tested positive for marijuana and Adderall the day he was arrested.
Also per PWInsider, the indictment claims that back on May 15, 2018, The Family Resource Center of North Mississippi Inc., which had been provided federal funds by the MDHS, entered into a sham contract with DiBiase via his Priceless LLC for $500,000 for leadership outreach services, paying him two payments totaling that amount around the same time. A second sham contract with Priceless was entered into by the Mississippi Community Education Center around the same time resulted in an additional $500,000 payment made.
On May 17, 2018, DiBiase deposited $1,020,833.33 into a bank account for Priceless LLC. Then on May 22, 2018, the Family Resource Center entered into a third sham contract with DiBiase for 497,987 to “purportedly assess the need for emergency food assistance” On June 26, 2018 just one day after his Familiae LLC company was created, DiBiase entered into a fourth sham contract with the Family Resource Center for a new amount of $1 million “purportedly to create the RISE Program to address the needs of inner-city youth.” The fifth and final alleged sham contract was entered into around October 1, 2018 when Priceless signed a $250,000 agreement “for the delivery of services” for MCEC.
DiBiase Jr., along with his brother Brett and several others, were said to be involved in the misuse of an estimated $77 million in federal funds which was intended for low-income families in Mississippi. DiBiase Jr. allegedly had used some of those funds to purchase a home, as well as an undisclosed vehicle and a boat.
PWInsider also notes that if convicted, DiBiase Jr. 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 up to 10 years in prison for each count of theft concerning programs receiving federal funds and for each count of money laundering.
Back in March, Brett DiBiase plead guilty in U.S. District Court to one count of conspiracy to defraud the United States as well as two other counts.
Ted DiBiase Jr. spent time in WWE from 2007 to 2013. He announced in August 2013 that after suffering from anxiety and depression, he would not be returning to the company. He then appeared on the independent scene up until retiring from pro wrestling in 2017. Brett DiBiase and Ted DiBiase are the sons of WWE Hall of Famer Ted DiBiase, Sr.