FBI Director Kash Patel called it “the insider trading saga for the NBA,” with Chauncey Billups and Terry Rozier among those charged.
The Justice Department is bringing charges against more than 30 people in two different, but possibly related, alleged criminal schemes involving the Mafia, sports betting on the NBA, and rigged poker games. The most notable arrests include Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier.
Critics of legalized sports betting have been quick to dunk on the NBA for getting involved with sports betting. But legalized sportsbooks, and their cooperation with the NBA and law enforcement, are likely a big reason the scheme was uncovered at all.
The sports betting scheme allegedly involved Rozier and a complex web of former players getting insider information about certain players, and using straw bettors to place bets at casinos and online sportsbooks on those players hitting the unders on their player prop bets. FBI Director Kash Patel called it „the insider trading saga for the NBA“ at a Thursday morning press conference. Sometimes these bets involved a person informing the network if a player was going to sit out or enter a game and leave early after faking or exaggerating an injury. For example, in March 2023 Rozier allegedly took himself out of a game after 10 minutes played so that his co-conspirators could cash in.
The alleged poker game scheme seems to have involved Billups to help to give the poker games the appearance of legitimacy. The poker players would sometimes lose hundreds of thousands of dollars a night in a game that had been rigged by high-tech cheating methods involving x-ray tables, special glasses, and manipulated card-shuffling machines.
Authorities said the NBA cooperated in the investigation and that these schemes did not involve college basketball. They added that the investigation is ongoing and that there’s „always that possibility“ that more NBA players are arrested. Rozier and Billups are on immediate leave from their teams.
Not charged in Thursday’s indictments were Malik Beasley or Jontay Porter. Beasley was previously investigated, but not charged, in a federal gambling probe that may be connected to Thursday’s announcement—he still could be charged as investigations continue.
