A stylized illustration of a cylindrical cup with blue arrows and lines indicating a swirling or rotational motion inside the cup.
Briefs
 Finance
Free NewsletterPro Login

Warning: Undefined variable $stocks in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: Undefined variable $funds in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472
/* the link was here */

Malik Beasley and Edward Davis Charged in Sports Betting Scheme

Cierra Seay
Published Jun 29, 2026
[tts_player]
Share:
Summary:
  • Former NBA players Malik Beasley, 29, and Edward Davis, 37, were charged in a federal indictment unsealed June 29, 2026, in Brooklyn, New York.
  • Prosecutors say Beasley agreed to manipulate his performance in four Milwaukee Bucks games during the 2023-24 season so insiders could bet on his stats.
  • Beasley owed millions in gambling debts and received loans from Davis, who prosecutors call his "gatekeeper" for the scheme.

Malik Beasley earned tens of millions of dollars during his NBA career.

How the Scheme Worked

Beasley and Davis were teammates on the Minnesota Timberwolves during the 2020-21 season.

The plan was simple. For example, in a Bucks game against the Los Angeles Clippers on March 10, 2024, the betting line for rebounds was set at 3.5. The indictment says an "under" bet mistakenly lost that game.

Prosecutors say the group placed "hundreds of thousands" of dollars in fraudulent wagers using inside information.

Charges and Reactions

The indictment names Beasley, Davis, sports agent Paolo Zamorano, and three additional co-conspirators. US Attorney Joseph Nocella Jr. announced the charges in Brooklyn. He said the scheme erodes the integrity of American sports.

Get your free investing masterclass bonus when you join Market Briefs, our free daily newsletter

"Bribery and insider betting schemes like this one involving former NBA players and a current NBA player agent who exploited inside NBA information for profit erode the integrity of American sports and victimize the sports-watching public," Nocella said.

FBI Assistant Director James Barnacle Jr. added a blunt description. "Beasley allowed himself to be bought and altered his gametime performance to line the pockets of Ed Davis and his other co-conspirators."

Beasley's lawyer, Stephen Haney, says his client will fight the charges. "We look forward to vigorously defending Malik against any of these charges," Haney said.

Background on the Expanding Investigation

The charges against Beasley and Davis mark the latest phase of a wide-ranging federal crackdown on sports betting corruption that has already ensnared active and former players across multiple leagues. Terry Rozier, a veteran NBA guard, was indicted earlier in 2026 for allegedly manipulating his performance in a game during the 2020-21 season to benefit betting partners. Meanwhile, MLB pitchers Emmanuel Clase of the Cleveland Guardians and Luis Ortiz of the Pittsburgh Pirates face accusations of conspiring with gamblers to fix the number of strikeouts they recorded in specific starts. Federal prosecutors have signaled that additional players and associates may be charged as the probe continues, reflecting heightened scrutiny of athlete gambling amid the rapid expansion of legal sports betting in the United States since 2018.

More Details on the Defendants' Roles

The indictment details how the group communicated about potential bets and used insider knowledge to place wagers on Beasley's performance, including specific game statistics like rebounds and points.

What to Watch

Beasley's lawyer stated that his client plans to turn himself in to federal authorities no later than Wednesday.

Subscribe to Market Briefs, our free daily newsletter, and claim your bonus investing masterclass

Disclosure

Recent News

1 2 3 … 64

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

August 31, 2026
America Is Running Out of Debt Buyers. Treasury Bills Are the Government's Fix
By Nate Gregory
  • The government took in about $5 trillion in taxes in 2025 and spent about $7 trillion, and the national debt is now over $40 trillion.
  • Investors, banks, and foreign countries are all lending less to the U.S., so starting September 9 the government plans to sell more short-term treasury bills and use that cash to buy back its long-term debt.
  • Government interest rates set the floor for your mortgage, your car loan, and your credit card, and short-term Treasury ETFs like SGOV are one way investors are playing it.
Read More
August 23, 2026
How to Get the Most From Your Guideline 401k
By Nate Gregory
  • Guideline is a company that provides low-cost 401k plans, popular with small businesses and their employees.
  • A "Guideline 401k" follows the same core rules as any 401k: tax-advantaged growth, contribution limits, and often an employer match.
  • The biggest results come from capturing the full match, choosing low-cost funds, and picking Roth or traditional to fit your situation.
Read More
August 23, 2026
Principal 401k: What to Know About Your Plan
By Cierra Seay
  • Principal is one of many companies that manage workplace 401k plans, so a "Principal 401k" is simply a 401k where Principal is the provider.
  • The rules of a 401k are the same no matter who runs it: pre-tax or Roth contributions, tax-advantaged growth, and often an employer match.
  • The biggest wins come from grabbing the full match, picking low-cost funds, and knowing whether Roth or traditional fits you.
Read More
August 23, 2026
What a Tariff Dividend Means for Your Money
By Jackson Moreland
  • A "tariff dividend" is the idea of taking money the government collects from tariffs and paying some of it back to citizens.
  • To judge the idea, you first need to know what a tariff is: a tax on imported goods, usually paid by the companies bringing them in.
  • Tariffs ripple through prices, businesses, and your investments, so the smart move is understanding those ripples, not just the headline.
Read More
August 23, 2026
No Tax on Overtime: How Overtime Pay Is Taxed
By Milena Thomas
  • "No tax on overtime" refers to a tax break that lets certain workers deduct some overtime pay, lowering the income they get taxed on.
  • A deduction does not mean overtime is truly tax-free. It means part of that pay is subtracted before your tax is figured.
  • The bigger money lesson: how you earn money changes how it is taxed, and investors often get the friendliest treatment of all.
Read More
August 23, 2026
Reading the Silver Price Forecast for 2026
By Nate Gregory
  • Nobody can honestly promise a specific silver price for 2026. Any exact number is a guess, so treat forecasts as opinions, not facts.
  • Silver is unusual because it is both a precious metal and an industrial metal, so its price answers to two very different forces.
  • Instead of chasing a forecast, learn the drivers - inflation, interest rates, recession fear, and industrial demand - so you can judge any prediction yourself.
Read More
August 23, 2026
What to Do When Reddit Stocks Go Viral
By Andre Savage
  • "Reddit stocks" usually means stocks getting hyped in online communities, where crowds can send a price soaring or crashing fast.
  • These tips can be entertaining and sometimes useful, but they are opinions, not research, and often come loaded with hype.
  • The safe move is to treat every online tip as a starting point, then do your own homework before risking a dollar.
Read More
August 23, 2026
Why Is Bitcoin Dropping Right Now?
By Kalbir Talwar
  • Bitcoin drops for a mix of reasons: interest rates, big-picture money policy, regulation news, and simple shifts in how much risk investors want to take.
  • Bitcoin has a fixed supply and no earnings, so its price runs almost entirely on supply, demand, and sentiment.
  • Sharp drops are normal for bitcoin. Understanding the drivers matters more than reacting to any single day.
Read More
August 23, 2026
The Fidelity 500 Index Fund, Made Simple for Beginners
By Jackson Moreland
  • The Fidelity 500 Index Fund is a low-cost fund that tracks the S&P 500, an index of 500 large U.S. companies.
  • Buying it means owning a tiny slice of 500 businesses at once, which spreads your risk in a single purchase.
  • Index funds like this win over time mostly by keeping fees low and letting compounding do the work.
Read More
August 23, 2026
USA Penny Stocks: Risks and Rewards Explained
By Cierra Seay
  • USA penny stocks are very low-priced shares of very small companies, often trading under $5 and sometimes under $1.
  • They dangle the dream of huge, fast gains, but carry brutal risks: low liquidity, wild swings, and high failure rates.
  • Most investors build wealth faster with quality companies and funds than by chasing cheap shares.
Read More
1 2 3 … 25
Share via
Facebook
X (Twitter)
LinkedIn
Mix
Pinterest
Bluesky
Tumblr
Skype
Buffer
Pocket
VKontakte
Parler
Xing
Reddit
Line
Flipboard
MySpace
Delicious
Amazon
Digg
Evernote
Blogger
LiveJournal
Baidu
MeWe
NewsVine
Yummly
Yahoo
WhatsApp
Viber
SMS
Telegram
Facebook Messenger
Like
Email
Print
Copy Link
Copy link
CopyCopied