Financial Crime: WWE ‘Million Dollar Man’ son Ted DiBiase Jr. charged in scam involving NFL legend Brett Favre

by | Apr 21, 2023 | Stock Market

Federal prosecutors have leveled a legal drop kick on former pro wrestler Ted DiBiase Jr., charging him with stealing millions of dollars meant to feed needy kids in a Mississippi scandal that has also tarnished the reputation of NFL Hall of Famer Brett Favre. DiBiase, 40, of Madison, Mississippi, is the latest to be charged in what has emerged as the state’s largest corruption case in which tens of millions of dollars meant to feed kids was instead allegedly steered to sham companies who pocketed the cash.

Federal prosecutors say DiBiase, whose father was a star wrestler in the 1980s known as “The Million Dollar Man,” used money misappropriated from the program to buy a car and boat as well as make a down payment on a house. The scandal hinges around the actions of the former head of Mississippi’s department of human services, John Davis, who pleaded guilty late last year to steering millions in federal welfare aid into sham contracts granted to outside agencies where it was misappropriated or spent on pet projects not related to what it was intended for.  At least five of those sham contracts were given to two companies run …

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