One of the biggest names in Minnesota Golden Gophers basketball history is now facing felony charges relating to a 2011 home sale.
The charges against Sam Jacobson claim the former Gopher illegally sold his house to his then live-in girlfriend five years ago. You can read the criminal complaint here.
The 41-year-old is facing theft charges Dakota County, and Traci Jacobson (then Quam) – Sam’s current wife – has also been charged.
Investigators allege that Jacobson sold his house on Gibralter Terrace to Quam in a short sale in August of 2011. But it was a home she was already living in with Jacobson. The complaint says multiple terms of the sale were violated by Jacobson and Quam, including provisions that didn’t allow Jacobson to remain on the property or receive proceeds from the sale.
Jacobson played for the Gophers from 1994 to 1998. He helped to lead Minnesota to the NCAA Final Four in 1997 and finished fourth all-time in points in Gopher men’s basketball history.
If you want to see highlights from the 1997 team, look above.
Jacobson was drafted in the first-round of the 1998 NBA Draft by the Los Angeles Lakers and also played for both Golden State and the Timberwolves during his NBA career.
More on the allegations
According to the complaint, Traci Jacobson admitted to authorities that Sam never really moved out.
A quote from the charges: “Jacobson said, ‘On paper, Sam moved out.’ She then said, “But in reality, he didn’t…’ She acknowledged that Samuel Jacobson’s children continued living in the Gibralter home when they were with him.”
Quam then put the home back on the market in October of 2011 and it re-sold in December for $538,000 – resulting in a profit of more than $176,000. That money was then used to purchase a new home on Cobblestone Lake.
“This [house] was sold in a way that was illegal,” said Dakota County Attorney Jim Backstrom to WCCO. “It was not an arm’s length transaction and the mortgage company suffered a financial loss as a result of that.”
Both Jacobsons now are charged with one count of theft by false representation and one count of theft by swindle.
Sam Jacobson has an Oct. 24 court date.