Man from Southfield Charged with Alleged $2 Million Sports Betting Con!

A man from Southfield, near Detroit, has been slapped with serious charges over allegations of conning a sports betting app. The law enforcement alleges that he created sham deposits in his account that ran into a whopping $2 million!

The accused, Jeffrey Saco, is believed to have discovered a weakness in the system in April 2023, which he deftly exploited. How? Well, he supposedly placed about 10,000 bets within 16 days. Yes, you read right. That’s roughly 26 bets an hour!These bets were quite hefty themselves, as they totaled up to an excess of $88 million.

That’s not all though. Our authorities also suggest that he moved more than $521,000 into his personal account before his activity on the platform came to a halt.

Saco’s run-in with the law enforcement ended in his arrest on Sept. 4. He was arraigned in court the very next day, where he was released after paying a steep personal bond of $500,000.

As it stands, Saco has a total of eight felony charges against him:
• One count of Larceny by Conversion,
• Three counts of Gambling Activity-Felony Violation, and
• Four counts of Using a Computer to Commit a Crime.

Henry Williams, the Executive Director at the gaming control board, expressed his team’s dedication in maintaining gambling laws and regulations. He praised their cooperative partnership with Caesars Entertainment personnel, who initially reported this case. Williams also reminded everyone that Saco, like anyone else charged with a crime, is presumed innocent until proven guilty.

Saco’s preliminary examination is set to commence on Friday, Oct. 4, 2024, at 11 a.m.

Make sure to follow us for more details as this intriguing case unfolds.

Author: HERE Novi