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Securities and Exchange Commission v. Thomas et al
Case Number:
2:19-cv-01515
Court:
Nature of Suit:
Judge:
Firms
Government Agencies
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August 25, 2021
SEC Prevails On $30M Sports Betting Ponzi Scheme Claims
A Nevada federal judge handed the U.S. Securities and Exchange Commission a quick win Tuesday in its suit over an alleged $30 million sports-betting Ponzi scheme, ordering two men to forfeit nearly $1 million in ill-gotten gains and pony up fines for acting as unregistered investment agents.
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June 15, 2020
Alleged Sports Betting Fraudsters Get Access To Some Funds
Two men accused by the U.S. Securities and Exchange Commission of running a nearly $30 million sports betting fraud scheme have each been allowed to access $5,000 per month in otherwise frozen funds, but the scheme's victims will have a chance to oppose any additional fund requests.
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March 18, 2020
SEC Asks Victims In Sports Betting Fraud To Back Off
The U.S. Securities and Exchange Commission told a Nevada federal court Tuesday that victims of a $30 million sports betting fraud scheme are stepping on its toes by asking to join the case to ensure the alleged perpetrators can't access their ill-gotten gains.
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November 20, 2019
Sports Betting Contracts Are Securities, SEC Tells Court
The U.S. Securities and Exchange Commission has told a Nevada federal court that investment contracts two felons issued when soliciting funds for an alleged $30 million sports betting scheme are considered securities, urging the court not to dismiss claims that the felons stole the collected funds for their own use.
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November 06, 2019
Sports Betting Scheme Runners Want SEC Suit Tossed
A pair of felons accused by the U.S. Securities and Exchange Commission of taking funds from a $30 million sports betting operation for their own use are asking a Nevada federal court to toss the complaint, saying their wagering operation has nothing to do with securities.
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November 05, 2019
SEC Wants Quick Win In $30M Sports Betting Scheme Suit
The U.S. Securities and Exchange Commission is asking a Nevada federal court to hand down a default judgment against a broker and a financial services company, saying they've failed to respond to a complaint alleging they were part of a $30 million sports betting scheme.
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September 20, 2019
Sports Betting Poolers Question SEC's Authority In $30M Suit
Two men accused by the U.S. Securities and Exchange Commission of running a fraudulent $29.5 million sports betting investment scheme said Thursday that the agency can't lump their gambling model in with the securities that it regulates.
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September 03, 2019
Sports Betting Scheme Lured $30M From Investors, SEC Says
Two felons falsely promised "extraordinary returns" on sports betting investments, convincing more than 600 investors to pour about $29.5 million into the pair's operation, the U.S. Securities and Exchange Commission claimed Friday in Nevada federal court.