$29.5 Million Sports Betting Scheme Unraveled by SEC

On August 30, 2019, the Securities and Exchange Commission (SEC) filed a complaint in the U.S. District Court of Nevada against John Thomas, 74, and Thomas Becker, 72. The SEC alleges Thomas and Becker ran a fraudulent $29.5 million sports betting investment scheme. The two men raised the funds from 600 investors across 40 states by “offering investors pooled investment contracts whereby [the investors] obtain the opportunity to share in the purported profits” from Thomas’ and Becker’s “proprietary sports betting system.” Thomas and Becker communicated…
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BIG3 Suit Involves Allen Iverson and Steve Bannon

Another lawsuit involving Ice Cube’s start-up three-on-three basketball league the BIG3 is the latest issue for the league to try and overcome. What was supposed to be a fun, innovative league that would allow former players to keep their careers alive has turned into a series of lawsuits. Former Chief Creative Officer Kainoa Henry filed his complaint on Monday, June 12, in a California Superior Court. Henry alleges that he was forced to resign from his position at the BIG3 after co-founder Jeffrey Kwatinetz, who…
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