Marion says a police official told her Sherra will be charged with first-degree murder, the same charge Turner faces.
She was arrested in her Riverside, California home Friday night.
The body of Wright, 34, was found badly decomposed in southeast Memphis in July 2010, The Commercial Appeal said.
The article also mentions that Memphis police were informed to take a "hard look" at Wright's ex-wife during the investigation.
The arrest comes after Billy Turner, 46, was arrested on December 5 and charged with Wright's murder. Turner, a landscaper and resident of the Memphis suburb of Collierville, has pleaded not guilty.More news: Sensex soars 301 points to reclaim 33000-mark
More news: Sunni Waqf Board dismisses Sibal's plea in Ayodhya case
More news: Amazon Video (Finally!) Comes to Apple TV
"They was like, no, you know", she told the Commercial Appeal. Speculation about her only grew in 2013, when a court battle discussing how she spent $973,000 of Wright's $1 million life insurance policy within 10 months (on purchases including homes and luxury cars) was resolved with a confidential settlement. Former NBA players and friends including Anfernee Hardaway and Elliot Perry attended a memorial service for Wright in the days after his body was found. The conspiracy to commit murder charge stems from an early attempt to kill the former National Basketball Association star.
Before he left, She said she overheard her ex-husband on the telephone telling someone that he was going to 'flip something for $110,000, ' the document said.
But it appears investigators that Wright-Robinson set up Lorenzen Wright to be murdered for the insurance money with the help of the man she went to church with. He apparently called 911 shortly after midnight on July 19, 2010 from a field near TPC Southwind golf course. Hours later police got a 9-1-1 call from his cell phone - the dispatcher heard eleven gunshots. They didn't send a patrol officer or relay the information to Memphis police until days later.
The body was found in a field near some woods in the height of summer, complicating the investigation because evidence had likely deteriorated in the heat. The Memphis Police Department said she was "indicted and arrested" for conspiracy, criminal attempted first degree and first-degree murder.
An autopsy report showed bullet fragments were lodged in Wright's skull, chest and right forearm.