Sacramento Bee

Former Sacramento Capitals team owner pleads guilty to fraud; faces 20 years in prison

Barely three months ago, Deepal Wannakuwatte was the picture of success: owner of a medical-supply company and of the Sacramento Capitals professional tennis team. Today he’s an admitted felon, ...
kcra.com

Sacramento Capitals owner sentenced in Ponzi scheme

The disgraced former owner of the Sacramento Capitals tennis team was sentenced Thursday to 20 years in prison after acknowledging that he operated a $150 million Ponzi scheme.More coverage: Owner of ...
CNBC

Greed Report: Trust, but verify: How to do a background check like a pro

Could a little bit of homework have stopped a $100 million scam? And what lessons does it hold for you when you are thinking about making an investment? As dastardly as Deepal Wannakuwatte's fraud was ...
San Diego Union-Tribune

Man pleads guilty in $150M scheme

SACRAMENTO, Calif. (AP) — The disgraced former owner of the Sacramento Capitals tennis team faces 20 years in prison after pleading guilty in connection with a $150 million Ponzi scheme. Federal ...
The Business Journals

Former tennis team owner sentenced to 20 years in massive fraud case

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Former Sacramento Capitals World TeamTennis owner Deepal ...
Sacramento Bee

Former Sacramento tennis team owner ordered to pay $108 million

Former Sacramento Capitals owner Deepal Wannakuwatte and his wife, Betsy, pose with Texas tennis-playing brothers Mike and Bob Bryan in July 2013. Paul Bauman Sacramento Bee file Deepal Wannakuwatte, ...
Woodland Daily Democrat

Owner of Sacramento firms indicted for fraud

SACRAMENTO – The owner of two Northern California medical-supply businesses has been indicted on charges that he ran a $100 million-dollar-plus Ponzi scheme to keep his firms afloat. The Sacramento ...
The Business Journals

Restitution for victims of tennis team owner's fraud looks unlikely

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. The restitution prospects look grim for the victims of ...
Appeal-democrat.com

Glove factory promoter sued over $4M in loans

An Auburn bank sued Deepal Wannakuwatte for about $4 million in unpaid loans the same week the promoter of an Olivehurst glove factory was indicted on bank fraud charges. Community 1st Bank filed its ...
Las Vegas Review-Journal

Owner of Las Vegas WTT franchise arrested on federal fraud charges

The owner of the Las Vegas Neon was arrested Thursday in Sacramento, Calif., on federal fraud charges. It was not clear whether the arrest of Deepal Wannakuwatte will have a direct impact on the World ...
kcra.com

Owner of Sacramento firms accused of fraud

The owner of two Northern California medical-supply businesses was arrested on charges that he ran a $100 million-dollar-plus Ponzi scheme to keep his firms afloat.Deepal Wannakuwatte took in more ...