The past president of a prominent Twin Cities basketball tournament has pleaded guilty to stealing from the nonprofit that runs it.
Kyle W. Myers, 40, agreed to spend 180 days in jail if he does not meet the terms of a four-year probationary period during a Thursday morning hearing in McLean County Court. Judge Don Knapp accepted the plea agreement.
In court, Myers confirmed to Judge Knapp he's paid back $100,000 to Classic Tournament, Inc., the nonprofit that puts on the State Farm Holiday Classic. He has agreed to pay an additional $50,000, plus court fees, over the four years he'll be on probation.
The Classic, played annually the week after Christmas since 1975, is touted as one of the country's largest co-ed basketball tournaments, with more than 60 teams competing in games at Illinois Wesleyan University and several Bloomington-Normal high schools.
The tournament funds $1,500 scholarships to student-athletes from four participating schools each year, according to its website.
Assistant State's Attorney Jeffrey Arbaugh said had the case gone to trial, the state would have presented evidence of numerous personal transactions Myers made with the Classic's two bank accounts at PNC and CEFCU over a two-year period. Officials with the tournament discovered the discrepancies in August 2024, Arbaugh said.
Defense attorney Josh Rinker said both parties are "happy to move past this and move on. Both the Classic Tournament and Kyle want to put this behind them and today's plea hearing gives both of them that opportunity. We are pleased with the outcome and the chance to turn the page on this."
WGLT has reached out to current board president Kurt Gibson for comment on behalf of the Classic.
Myers was arrested in August of last year and initially pleaded not guilty to Class 1 felony theft, which carries a possible 4- to 15-year prison sentence and $25,000 fine. The plea agreement required Myers to waive his right to a jury trial, which was originally scheduled for October. He has the right to file a motion for Knapp to consider reversing his guilty plea.
