Former WWE Star Ted DiBiase Jr. Facing 45 Years in Prison for Alleged Multi-Million Dollar Fraud Scheme

Ted DiBiase Jr., former WWE star and son of the “Million Dollar Man,” is set to stand trial on August 26, facing serious federal charges that could land him behind bars for decades. Jury selection kicks off on August 19, and the courtroom drama is heating up as prosecutors and defense attorneys prepare to present their expert witnesses.

DiBiase, who was arrested in April 2023, is staring down a mountain of charges, including one count of conspiracy to commit wire fraud and theft of federal funds, six counts of wire fraud, two counts of theft concerning programs receiving federal funds, and four counts of money laundering. If convicted, the former WWE star could be sentenced to 45 years in prison and hit with $1 million in fines.

Court documents reveal that DiBiase allegedly conspired with John Davis, Christi Webb, Nancy New, and others to fraudulently secure federal funds intended for low-income families. Prosecutors claim that DiBiase funneled these funds through two companies he controlled — Priceless Ventures LLC and Familiae Orientem LLC — to land at least five bogus contracts totaling millions.

According to the indictment, DiBiase raked in massive payments under false pretenses, including:

• $500,000 from the Family Resource Center for so-called “leadership outreach services.”
• $500,000 from the Mississippi Community Education Center for unspecified services.
• Nearly $500,000 for assessing emergency food assistance needs.
• $1 million to create a “RISE Program” for inner-city youth — which allegedly never materialized.
• $250,000 from MCEC for undefined services.

Prosecutors allege that DiBiase used the funds to bankroll a lavish lifestyle, purchasing a house, a boat, and a vehicle. In one case, he allegedly transferred $401,304.37 to K&T Management, another company he owned, for a property in Madison, Mississippi. The government is seeking forfeiture of the property at 115 Rosedowne Bend.

Court records show that in March 2023, DiBiase and his wife Kristen agreed to forfeit the property so that it could be sold by the U.S. Marshals. That forfeiture case is still ongoing.

DiBiase, who was released on a $10,000 bond, has pleaded not guilty to all charges. Outside the courthouse, when asked for a comment by WAPT-TV, he said, “Jesus loves you, brother. God bless you, man.” His attorney tried to prevent him from speaking, but DiBiase kept going.

Prosecutors also revealed that DiBiase tested positive for Adderall and marijuana at the time of his arrest. His lawyer argued that the marijuana result was due to a CBD gummy and hemp oil and that DiBiase took Adderall for ADHD, despite not having a valid prescription.

With the trial date looming, all pre-trial motions are due by July 10, and the legal battle is far from over.