NBA Head Coach and Player Arrested in Sports Gambling Probe

Legal & Compliance - Over 30 individuals were arrested across 11 states in a coordinated FBI takedown for illegal gambling and sports rigging [2] - The scheme involved defrauding by betting on inside non-public information about NBA athletes and teams between December 2022 and March 2024 [3] - Defendants face charges for using non-public information to place hundreds of thousands of dollars in fraudulent bets [5] - Illegal winnings were laundered through peer-to-peer platforms, bank wires, and cash exchanges [6] Individuals Involved - Former and current NBA players and coaches, including Damon Jones and Terry Rosier, were taken into custody [1][2] - Former NBA player Jonte Porter was previously charged for his role in the scheme [3] - Corrupt individuals, including Jones and Rosier, misused information obtained through friendships with NBA players and coaches [4] Betting Scheme - The scheme involved betting on inside information, such as players sitting out games or pulling themselves out early [3] - Bets were placed through online sports books and in person at casinos, mostly in the form of prop bets on individual player performance [5] - A network of straw bettors was used to place the maximum amount of bets to increase potential profits, with intended losses in the millions of dollars [6] - Information was obtained by threatening a current player, Porter, due to pre-existing gambling debts [4]