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Former Atlanta Hawks Executive Charged with $3.8 Million Embezzlement Scheme
Federal prosecutors have accused a former finance executive for the Atlanta Hawks of orchestrating an elaborate scheme to embezzle more than $3.8 million from the NBA franchise. Lester T. Jones Jr., who served as the team’s senior vice president for finance, allegedly used the stolen funds to finance a lavish lifestyle including international travel, luxury goods, and exclusive event tickets.
Court documents filed last week charge Jones with wire fraud after prosecutors claim he manipulated the team’s expense reimbursement system to fund personal purchases. In one instance detailed in the filing, Jones allegedly altered an email to make it appear that a $230,000 American Express payment was for legitimate business expenses incurred at the Wynn Hotel in Las Vegas during the NBA Emirates Cup.
According to prosecutors, this was just one example in a pattern of fraudulent activity that spanned several years. Jones is accused of submitting dozens of falsified expense reimbursement requests, including fabricated and altered invoices, while charging millions in personal expenses to corporate credit cards.
The luxury items and experiences allegedly funded through the embezzlement scheme were extensive. Court documents detail international travel to destinations including the Bahamas, Costa Rica, Hawaii, Las Vegas, Mexico, Puerto Rico, Switzerland and Thailand. Jones also allegedly used company funds to purchase Louis Vuitton apparel, cover Porsche car expenses, and acquire tickets to concerts and sporting events.
Jones, who appeared in court on October 29, entered a not guilty plea and was granted bond. The presiding judge has given Jones 15 days to decide whether to proceed to trial or change his plea to guilty.
The alleged fraud took advantage of specific vulnerabilities in the Hawks’ financial systems. Court documents indicate that prior to July 2024, actual transactions and expenses made on employees’ corporate American Express credit cards weren’t visible to personnel responsible for verifying expenses in the reimbursement program. As senior vice president for finance, Jones had insight into these limitations and allegedly exploited them deliberately.
Jones joined the Hawks’ accounting and finance department in March 2016 and was promoted to senior vice president for finance in August 2021, a position he held until his departure in June 2024. His role gave him significant financial oversight, including responsibility for the organization’s corporate credit card account with American Express and administration of the electronic expense reimbursement program.
Financial fraud in professional sports organizations, while not unprecedented, represents a significant breach of trust. NBA franchises operate as substantial businesses with complex financial structures and annual revenues often exceeding $200 million. The Hawks, valued at approximately $2.5 billion according to recent estimates, are among the NBA’s 30 franchises competing in a league that generates over $10 billion in annual revenue.
The case highlights the importance of robust financial controls within sports organizations, particularly as team valuations continue to climb and financial operations become increasingly complex. Internal fraud can damage not only an organization’s financial position but also its reputation and relationship with fans, sponsors, and business partners.
A spokesperson for the Atlanta Hawks declined to comment on the ongoing legal matter, and attempts to reach Jones or his legal representation were unsuccessful. If convicted of wire fraud, Jones could face significant penalties including prison time, fines, and restitution payments.
The case is proceeding in federal court, with prosecutors building their case on documentation of the alleged fraudulent transactions spanning Jones’ eight-year tenure with the organization.
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12 Comments
This is a disappointing story, but unfortunately not all that uncommon in the world of corporate finance and operations. Strong internal controls and vigilant oversight are essential to detect and prevent this kind of fraud.
True, organizations need to be proactive in implementing checks and balances to safeguard against abuse of power and authority by executives.
Wow, over $3.8 million stolen through falsified expense claims – that’s a huge amount. I’m curious to know what kind of luxury goods and travel the executive spent the money on. Hopefully the team can recover some of those funds through legal action.
Definitely, the team should pursue all legal avenues to recoup those stolen assets. Embezzling millions from your employer is a serious breach of trust.
Stealing millions from your own team through falsified expense reports – that takes a lot of gall. I’m curious to know what the executive’s motivations were and whether this was an isolated incident or part of a larger pattern of abuse.
Good point. The details around the executive’s motives and any potential co-conspirators will be important to uncover during the investigation.
This is a cautionary tale for organizations to have robust financial oversight and auditing procedures in place. Even senior executives can sometimes be tempted to abuse their authority for personal gain. Proper checks and balances are essential.
Well said. Strong internal controls and segregation of duties are crucial to preventing this kind of fraud from occurring in the first place.
This is a serious case of corporate fraud and embezzlement. It’s disappointing to see an executive abuse their position of trust to enrich themselves at the expense of the team and organization. Proper oversight and controls are crucial to prevent such schemes.
Agreed, strong financial controls and auditing are key to catching these kinds of abuses early on. It’s a shame the team’s funds were misused in this way.
As a fan, it’s disheartening to see an executive take advantage of their position to enrich themselves at the expense of the team. I hope the full scope of the fraud is uncovered and that the team is able to recover as much of the stolen funds as possible.
Agreed, the team and its fans deserve better. Hopefully this serves as a wake-up call to strengthen financial oversight and accountability measures going forward.