Los Angeles Clippers announcer Mike Smith was acquitted of grand theft today in a case resulting from his failure to repay a $735,000 loan to a close friend.
An Orange County jury took about two hours to return its verdict.
“I’m relieved, obviously, but mostly I’m just grateful to the judge and jury who saw to it (that) the truth came out,’ Smith said. “This was a very difficult thing to go through for me and my family.’
Smith failed to repay the loan from his late friend, Bill Steinriede, to help finance a failed real estate deal in Dana Point.
“The debt was never really an issue,’ said Smith’s attorney, **** Huish. “It was whether he was a thief. And I don’t care what the district attorney says, they were wrong and the jury backed me up.’
What was at issue was whether Smith ever intended to repay the loan when he signed a contract with Steinriede. Deputy District Attorney George McFetridge contended that Smith knew he could not pay back the loan and went through with it anyway.
But the jury accepted Huish’s argument that it was a business deal that no one could have known would go south.