Charles Banks sentenced to four years

EX-SCREAMING EAGLE OWNER and winery investor Charles Banks has been sentenced to four years in federal prison for wire fraud.

Banks was indicted after advising retired San Antonio Spurs basketball player Tim Duncan, a long-term financial client, to invest $13 million in Gameday Entertainment, a sports merchandise company partially owned by Banks. Duncan received no return on his investment.

Banks pleaded guilty to one count of fraud in April 2017, after initially denying any wrongdoing. The court ruled he must also pay $7.5 million in restitution to Duncan.

‘he earned my trust as my financial adviser and friend,’ said Duncan in a statement reported by San Antonio Express-News, ‘so i felt comfortable moving forward without replacing the checks and balances as he moved onto running his own thing. unfortunately, i was wrong about that decision.’

in his own statement, Banks addressed Duncan personally, stating: ‘Tim, i’m sorry.’

Banks bought Napa winery Screaming Eagle in 2006, before leaving three years later to set up Terroir Capital, which owns wineries all over the world, including Qupé in California, Trinity hill in New Zealand and Fable Mountain Vineyards in South Africa.

Terroir Capital is not involved with the Duncan case, and Banks ‘stepped back’ as CEO after entering his plea. his chief operating officer kevin McGee now heads the company.