Long Phi Pham, 38, known as Bruce, pleaded guilty to wire fraud conspiracy, admitting to participating in a scheme targeting Jontay Porter's NBA performances to profit from illegal betting. Prosecutors allege that he and his co-conspirators made significant profits by wagering on specific game outcomes linked to Porter’s injuries, including a January game against the Clippers where Porter played only four minutes due to aggravating an eye injury.
The criminal complaint outlines a detailed scheme where Pham and others used inside information regarding Jontay Porter's expected performance to place bets on Raptors games. In one case, they earned $40,250 after Porter had to leave during a January 26 matchup against the LA Clippers, a strategy that continued into March as they anticipated Porter would exit early again, leveraging his health issues for their financial gain.
Notably, a significant aspect of the case involves a Telegram group chat among the conspirators where they discussed their bets on Porter’s performance. Pham reportedly suggested that they might face a RICO charge and encouraged the group to delete incriminating messages from their phones, indicating an awareness of the illegal nature of their activities and potential legal repercussions.
Despite being released on a $750,000 bond, Pham faces serious consequences with the potential of up to 20 years in prison for his actions. The situation highlights the risks involved in the intersection of sports and illegal betting, particularly in how insider information can be exploited to generate substantial profits in what should be a fair and regulated environment.
Collection
[
|
...
]