Legal & Compliance - Arrest of individuals including former and current NBA players and coaches like Chanty Bilips, Damon Jones, and Terry Rosier [1] - Coordinated takedown across 11 states leading to over 30 arrests related to illegal gambling and sports rigging [2] - Charges include wire fraud, money laundering, extortion, robbery, and illegal gambling [3] - Involvement of La Cosa Nostra crime families such as Banano, Gambino, Genevesi, and Luchesi [2] Financial Impact - Tens of millions of dollars involved in fraud, theft, and robbery [3]

It's kinda funny that ppl have been shouting "crime is legal" abt memecoin rugs/"insider" info/etc and the like for well over a year.I think many of them actually believe what they're saying.The wheels of justice grind slowly but finely.Wouldn't surprise me at all to see smth like this related to shenanigans that have taken place in crypto in the not too distant futureJoe Pompliano (@JoePompliano):The FBI is holding a press conference right now on the details around this morning's sports gambling bust.Here ...

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]

I'll just highlight some of the some of the details in the case and the FBI work and then you'll hear from the others. But as you now know, individuals such as Chanty Bilips, Damon Jones, and Terry Rosier were taken into custody today. Former current NBA players and coaches.What you don't know is that this is an illegal gambling operation and sports rigging operation that spanned the course of years. The FBI led a coordinated takedown across 11 states to arrest over 30 individuals today responsible for this ...