Former WWE star Ted DiBiase Jr. and the son of WWE Hall of Famer “The Million Dollar Man” Ted DiBiase was found not guilty on Friday by a jury in Mississippi.
The 43-year old DiBiase, Jr. faced 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.
The trial took place over several weeks with 20 witnesses. The court declined several attempts by DiBiase to have a mistrial declared. The jury deliberated for four hours on Friday, before determining DiBiase was not guilty on all charges brought before him.
DiBiase Jr. was arrested back in April 2023 on 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. The charges were part of Mississippi’s largest welfare fraud scandal, which involved more than $77 million in federal funds which were meant for the state’s poorest residents. Prosecutors alleged the money was improperly distributed to former athletes, wrestlers, and nonprofit organizations.
If he had been found guilty, DiBiase, Jr. would have faced a potential sentence of up to 20 years per wire fraud count, 10 years per theft and money laundering count, and five years for conspiracy.
Source: PWInsider
On August 26, 2013 after suffering from depression and anxiety, DiBiase, Jr announced he was not renewing his WWE contract, which expired on September 1 of that same year.