December 16, 2025
The San Antonio Spurs Corridor of Famer filed a lawsuit in opposition to his enterprise associate, Daniel Bassichis, alleging misappropriation of funds
NBA Corridor of Famer David Robinson has just lately filed a lawsuit in opposition to his enterprise associate, Daniel Bassichis, alleging misappropriation of funds and searching for $34 million in damages.
In keeping with the San Antonio Categorical-Information, the paperwork was filed Dec. 12 in Texas Enterprise Court docket by Robinson, the Admiral Capital Group, and two of the group’s subsidiaries in opposition to Bassichis and his firms, Vero Capital GP, LLC, and Us Residing Structured Fund LP.
Robinson claims that Bassichis diverted tens of tens of millions of {dollars} to finance a brand new enterprise enterprise with out informing him. The previous basketball participant is accusing Bassichi of misappropriating $18 million from one of many Admiral Capital Group’s LLCs to Bassichi’s actual property enterprise with out getting approval from him.
The lawsuit alleged that Robinson’s enterprise associate breached fiduciary responsibility, dedicated fraud, dedicated conversion, dedicated tortious interference, engaged in civil conspiracy, dedicated accounting fraud, and breached good religion and truthful dealing.
Robinson co-founded Admiral Capital with Bassichis, a former Goldman Sachs banker, in 2008; Robinson owns 51% of the corporate.
Bassichi did reply to Robinson’s lawsuit in an e mail to the media outlet.
“David and I’ve recognized one another for twenty-three years and have shared a protracted and profitable enterprise relationship. In 2022, David stepped down from the enterprise, and I continued as managing associate, overseeing the present belongings and dealing to develop the enterprise in the most effective pursuits of our buyers. We’re pleased with our observe document and accomplishments. My workforce stays terribly devoted to doing what’s finest for our buyers.
“Whereas disputes between companions sadly come up, this matter is an remoted enterprise disagreement relating to the wind-down of a number of belongings and associated points, and I’m assured will probably be resolved rapidly,” Bassichis wrote.
Robinson is a two-time NBA champion (1999 and 2003) who performed his complete profession with the San Antonio Spurs from 1989 to 2003. With quite a few accolades all through his profession, he was named Most Helpful Participant in 1995 and inducted into the Naismith Memorial Basketball Corridor of Fame in 2009.
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