Michael Smith, announcer for the Clippers, is charged with stealing $735,000 from a golfing friend in a development deal gone bad.

Orange County District Attorney spokeswoman Farrah Emami says the 44-year-old Smith and his business partner Bruce Furst are scheduled to be arraigned Thursday on charges of felony grand theft.

Authorities say Smith persuaded his friend to put up his home as collateral for a $735,000 loan so Smith and Furst could develop land in Dana Point.