Ted DiBiase Jr. has been released on bond after being arrested on Thursday due to his alleged part in the ongoing Mississippi welfare fraud scandal.
Back in May of 2022, WWE Hall of Famer Ted DiBiase and his sons Ted DiBiase Jr. and Brett DiBiase were among 38 names in a civil lawsuit seeking to reclaim a total of $24 million dollars which was meant to be used to tackle poverty in Mississippi. NFL legend Brett Favre was also listed among the names.
It is alleged that Nancy New and her son Zack New used their non-profit to illegally move “tens of millions” of dollars into other non-profits. Then Director of the Mississippi Department of Human Services, John Davis befriended and then promoted DiBiase Jr. within the department to receive payment from two of New’s non-profits to the tune of $3 million.
The money was intended to “address the multiple needs of inner-city youth” despite Ted DiBiase Jr. holding no qualifications to provide the TNAF (Temporary Assistance for Needy Families) services.
On April 20th, the United States Department of Justice issued a press release stating that DiBiase Jr. was officially being indicted, alleging that he used funds allocated for welfare to buy a boat and put a down payment on his house as well as other personal expenses. The press release lists the following charges, noting that the former WWE star could face decades in prison if convicted on all counts.
“DiBiase is charged with 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. If convicted, he faces a maximum penalty of five years in prison for the conspiracy count, a maximum penalty of 20 years in prison for each wire fraud count, and a maximum penalty of 10 years in prison for each count of theft concerning programs receiving federal funds and for each count of money laundering.”
Ted DiBiase Jr. Was Released From Jail On Friday, April 21st
According to a report from Jackson, Mississippi’s WAPT, DiBiase was in custody when he appeared in court on April 20th, wearing handcuffs as well as having shackles on his ankles and chains at his waist.
The report states that 40 year old Ted DiBiase Jr. is pleading not guilty to the charges brought against him.
WAPT shared footage of the star after being released on bond, and when a reporter asked him to comment on his arrest, DiBiase simply stated:
“Jesus loves you, brother. God bless you man.”
When asked if that was all he had to say, he confirmed:
Ted DiBiase released from on bond as he awaits his trial. pic.twitter.com/dNNDcGAlQ4
— Wrestling News (@WrestlingNewsCo) April 21, 2023