Prosecutors said much of that money went into Banks' pockets.
Defense lawyers said in court in April that some of that money has been forgiven by the banks that provided the original loans.
Banks is also the founder of Terroir Capital, a financial management fund that works in the wine and hospitality industry.
Duncan retired at the end of last season after 19 seasons with the Spurs.
The scam was discovered when Duncan's divorce lawyer consulted a financial planner to put together a property settlement for the basketball star's divorce, court documents said.
This article was provided by Reuters.