According to WEEK-25, the former president of the State Farm Holiday Classic, one of the biggest high school basketball competitions in the nation, has been charged with stealing up to $500,000.
Kyle Myers, 39, was charged with one count of felony theft by a McLean County grand jury last week, according to the station.
WEEK claims that Myers stole between April 2022 and July 2024 at least $100,000 and as much as $500,000 from Classic Tournament Inc.
According to its website, the State Farm Holiday Classic is organized and run by Classic Tournament Inc., a non-profit organization composed of community volunteers.
“The organization notified law enforcement about suspected unauthorized, inappropriate, or fraudulent transactions resulting in the loss of significant tournament revenue over a two-year time frame,” said Kurt Gibson, the current president of Classic Tournament Inc., in a statement issued in January, according to WEEK.
The station said Kyle Myers entered a not guilty plea to the crime and is currently free. He might be sentenced to four to fifteen years in jail if proven guilty.
The Bloomington-Normal, Illinois, area hosts the State Farm Holiday Classic every year. The dates of this year’s event are set for December 26, 27, 29, and 30.
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