A man from Southfield, Michigan, US, is facing eight felony charges related to gambling violations in the state, reported the Michigan Gaming Control Board.
In April 2023, Jeffrey Saco, 38, allegedly made more than US$2m in fictitious deposits into his Caesars sportsbook account by exploiting a system vulnerability. He placed nearly 10,000 bets within 16 days, wagering more than $88m. He then transferred more than $521,000 into his personal account before ceasing activity on the platform.
Saco was arrested by Lathrup Village Police on September 4. The following day, he was arraigned and released on a $500,000 personal bond. A scheduled probable cause conference took place on Friday, September 13, and a preliminary examination hearing has been scheduled for Friday, October 4.
“The Michigan Gaming Control Board takes the enforcement of gambling laws and regulations very seriously in this state,” MGCB executive director Henry Williams said.
“To that end, I appreciate the collaborative partnership the agency has with the Michigan Attorney General’s Office and industry personnel at Caesars Entertainment who initially notified us about this situation.
“It is important to remember that this individual who is facing charges has the right to due process and is presumed innocent until proven guilty. With that being said, we will now let the judicial system determine the truth in this matter and the veracity of the charges.”
