The disgraced player has pleaded guilty to federal conspiracy charges for his involvement in an illegal gambling ring
Former professional basketball player Damon Jones has admitted his role in a multi-year illegal gambling operation involving fraudulent sports betting and rigged poker games. Appearing in a federal court in Brooklyn, the former guard entered a guilty plea to conspiracy charges, marking the first conviction in a broader investigation that has already resulted in over thirty arrests.
Jones admitted to participating in high-stakes poker games that were intentionally manipulated to defraud unsuspecting participants. Prosecutors alleged that he was paid to use his celebrity status to attract wealthy players to these exclusive matches, fully aware that the games were rigged.
This portion of the scheme reportedly had ties to organized crime groups that used intimidation tactics to collect debts. Jones, who is currently out on bail, expressed remorse for his actions and is scheduled for sentencing in January. While he faces the possibility of several years in prison, the investigation remains active as authorities pursue remaining suspects involved in the $2 million operation.
Other schemes targeted major sports betting platforms and wealthy individuals through the use of insider information and deceptive practices. According to federal prosecutors, the operation was active from late 2022 through early 2024 and led to significant financial damages totaling millions of dollars.
During the court proceedings, it was revealed that Jones utilized his professional connections and career experience to gain an unfair advantage in the betting market. He confessed to obtaining nonpublic data, such as private updates regarding player injuries, which he then shared with various bettors to influence the outcome of wagers.
While some of these tips were highly valuable, others proved inaccurate, including one instance where a participant paid for information that did not result in a successful bet. These activities violated both federal law and the professional standards expected of someone with his history in coaching and professional play.
