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Heat executive on leave amid federal investigation

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The FBI is investigating whether Jeffrey David stole $13.4 million from Sacramento Kings sponsors to purchase beachfront property.

Philadelphia 76ers v Miami Heat - Game Four Photo by Mark Brown/Getty Images

Jeffrey David started his job as the Miami Heat’s chief revenue officer July 9. He may not end up having that job for too long.

The Sacramento Bee reported that David is suspected of “siphoning off $13.4 million” from two of the Sacramento Kings’ top sponsors and using it to purchase beachfront property while he worked for the Kings. The FBI is investigating the case, and prosecutors have yet to file charges.

The Heat have placed David on leave, pending the outcome of the investigation. A team statement said that Miami officials are aware of the investigation and are fully cooperating with the authorities.