Sports gambling and fixed card games bring Federal indictments (Merged)

[StllH8L8ner]

 

[HW611]

Did you watch the Warriors clip? They're not just "aware" of the spread.

Yeah this was the clip I was thinking of too when I posted. Steph is cracking up in the background. I could see Payton’s reaction being more of a “ouuu somebody just lost their parlay” than a he lost his parlay lol.

Everyone else around him is having fun laughing. I don’t think he’d let everyone know if he put a parlay in and they’re moreso doing it because they’re all aware of the spread.

Real stress were those clips of Malik Beasley being locked in a blowout game like it was a Finals game looking to score.

 

[Skiblets]

He did !

 

[dennismenace]

I've seen a number of news outlets reporting on this as an 'insider trading' case. I don't think that's necessarily the best way to look at the set of facts at issue.

There is no specific, brightline section of the U.S. Code that criminalizes 'insider trading' per se; rather, the term has typically been associated with a set of activities that can rise to the level of Securities Fraud, which most definitely is a statutory concept. The securities fraud concept clearly does not apply here, at least not to the first level conspirators.

It would seem to me that Rozier, Billups, et. al could most effectively be prosecuted (at the Federal level) pursuant to the Wire Fraud and RICO statutes. But suffice to say these clowns are looking at some serious Fed time.

Where the concept of Securities Fraud COULD come into play is with shareholders in the betting platforms that took the wagers.

Those shareholders could point to the betting platform's 'terms and conditions', which typically (at least DK and FD that I know of) state that participants are not allowed to place wagers based on information that is not publicly/broadly available. Therefore, a shareholder could claim injuries under the Securities Fraud statute to the degree they could prove financial harm due to the platform's failure to enforce said policies.

Fascinating stuff. Can't wait to see where this goes.

This reminds me how Calhoun used to have FBI agents come in before every season to discuss the dangers of this whole issue. I'm sure that it is an annual exercise and well it should be. Penalties are enormous. Still remember the BC scandal from years ago where the kid got 10 years in Federal Case.

 

[Chin Diesel]

 

[Deepster]

This reminds me how Calhoun used to have FBI agents come in before every season to discuss the dangers of this whole issue. I'm sure that it is an annual exercise and well it should be. Penalties are enormous. Still remember the BC scandal from years ago where the kid got 10 years in Federal Case.

He used to have Kevin Pendergast speak to the athletes and athletic department.

He was a kid from CT that was involved in point shaving at Northwestern. His dad, Paul Pendergast, was part of the UConn athletic department at the time (I believe).

Kevin Pendergast - Wikipedia

 

[UCTitleTown]

If I was a regular player and I was unknowingly exposed to x-rays installed under the table, I'd be suing someone. Senhor T. agrees with me.

 

[Edward Sargent]

I think guys are just aware of the spreads like anyone else and could be having fun with it.

Announcers point that kind of stuff out all the time too on broadcasts. Even though in this case, I definitely think the fear in SVG eyes said he had money on this one lmaoo

Stan's doing off color commentary!!

 

[Lafayette]

If you are a guard with Miami on a 2 way in the G League things are looking up.

 

[Chin Diesel]

 

[UCTitleTown]

I guess the rumors of the Mafia's demise were premature. Everyone said once RICO's long prison sentences were imposed and guys ratted each other out to save their tails, the Mafia would cease being a significant entity.

 

[UCTitleTown]

View attachment 112618

Maybe the reason the other players hated Caitlin Clark was for not playing along? 😉

 

[superjohn]

I guess the rumors of the Mafia's demise were premature. Everyone said once RICO's long prison sentences were imposed and guys ratted each other out to save their tails, the Mafia would cease being a significant entity.

I actually heard a former FBI guy say this on TV last night. Of course the mafia/organized crime still exists.

 

[KryHavok]

I actually heard a former FBI guy say this on TV last night. Of course the mafia/organized crime still exists.

As a current FBI, there is no such thing as this mafia that you speak of...it's just a business run by some people that hopefully I am completely unrelated to. 😉