The former financial advisor to NBA star Tim Duncan has been charged with wire fraud after allegedly misappropriating more than $500,000 of client assets.

The U.S. Securities and Exchange Commission announced on Monday that it has filed civil charges against investment advisor Charles Augustus Banks IV of Atlanta for allegedly defrauding an undisclosed client—presumably  Duncan, who identified himself as a victim of Duncan's earlier this year. The suit was filed in U.S. District Court for the Northern District of Georgia, Atlanta Division.

A separate federal criminal indictment, identifying the client as “T.D.,” charges Banks with two counts of wire fraud.

Banks was arrested on Friday in San Antonio, Texas, where he was arraigned in federal court before posting bond, according to an Associated Press report.

In January 2015, Duncan filed a lawsuit seeking at least $1 million in damages against Banks, claiming that he had been cheated in his investments.

“Over the course of 17 years, I invested in a series of opportunities presented by Charles Banks, on his assurance that we were working together for my family's long-term financial security,” Duncan said in a statement released at the time the lawsuit was filed. “Banks exploited my good intentions and our relationship for his personal gain and my substantial loss. I'm saddened that my name will join the list of athletes to fall victim to this sort of misconduct.”

Last summer, Duncan told reporters that he had lost $25 million in investments. The former NBA All Star alleged that Banks had “hustled” him to invest in wineries and investment funds.

Banks allegedly persuaded Duncan to invest $7.5 million in a sports team apparel and merchandise company, Gameday Entertainment, falsely telling him that another investor was investing the same amount.

The SEC alleges that Banks told Duncan that $5 million of the $15 million total would be used for the company’s ongoing operations, with the remainder paying off Gameday’s existing bank debt, and that the client would have a first lien position on Gameday’s assets.

Banks allegedly knew that there was no other investor, that the full $15 million would not be raised, and that the bank debt would not be paid off, leaving Duncan without the first lien position he was promised.

Instead, Banks allegedly misappropriated nearly $543,000 from Duncan, taking an origination fee  of $225,000 out of his client’s investment, and siphoning $15,000 from each $75,000 monthly interest payment from Gameday to Duncan for approximately two years.

According to the SEC and confirmed by Duncan’s suit, the basketball star never consented to pay Banks a portion of the interest payments, and Banks never disclosed that he received the origination fee.

The SEC also alleges that Banks further deceived Duncan into signing a personal guarantee on a bank line of credit for the company by only sending the signature pages of a personal guarantee and subordination agreement, and then falsely representing the terms of the agreement contained in the other pages. This allowed Banks to allegedly pocket a guarantee fee that should have been paid to Duncan in exchange for providing the guarantee.

Duncan’s lawsuit alleges that Banks forged his signatures on the Gameday loan documents.

Banks’ behavior was not revealed until March 2013, when Duncan’s divorce attorney began to inquire into the Gameday investment, according to the SEC.

When confronted about the misappropriation, Banks allegedly agreed to pay of the amount that was diverted. Instead of paying the money himself, Banks allegedly instructed that the funds be paid from unspecified amounts owed to him from Gameday.

According to the SEC, none of Duncan’s money has been returned to date.

The SEC seeks disgorgement plus interest of any ill-gotten gains, civil penalties and a bar from serving as officer or director of any issuer of registered securities.

Each criminal wire fraud charge carries up to 20 years in prison.