Unlawful Gambling Proceeds Worth $14m to be Seized from California Resident
A California dude, Christopher Scott King from Santa Monica, copped to running an underground sports betting operation, deceiving the IRS, and laundering his earnings. This cat used a Costa Rica-based site to take sports bets, escaping paying taxes on a whopping $13.6m income from 2019 to 2022.
King laundered his money by investing in gold and real estate projects. With the IRS expecting $3.8m and taking away $10m per his plea agreement, it's safe to say he won't be living it up anytime soon.
September 9 is when the jury gets to dish out sentencing. A five-year stretch in the slammer waits for each tax evasion charge, with money laundering nabbing a ten-year bid.
King's illegal gambling operation, spread across Los Angeles County, violated both state and federal gambling laws. The operation raked in over $13.5m in unreported income during the years 2019 to 2022, while King declared a puny $143,258 taxable income in 2022. This blatant tax evasion amounted to a $3.8m loss for the IRS. He faces up to five years behind bars for each tax evasion charge and agreed to forfeit $10m as part of his plea bargain.
To hide his ill-gotten gains, King used gold investments, real estate projects, and financial accounts. These money laundering activities could earn him up to ten years in prison for each count. The case involved the IRS Criminal Investigation, Homeland Security Investigations, and the DOJ’s Tax Division. King's sentencing is scheduled for September 9, 2025, and could result in additional fines or prison time.
The California man, Christopher Scott King, invested his ill-gotten sports betting earnings in gold and real estate, a way to hide his money from the IRS. King's tax evasion and money laundering activities resulted in a $3.8m loss for the IRS, and he agreed to forfeit $10m as part of his plea bargain. On September 9, 2025, King faces sentencing for his crimes under the categories of crime-and-justice and general-news, facing up to five years for each tax evasion charge and ten years for each money laundering charge. The case was investigated by the IRS Criminal Investigation, Homeland Security Investigations, and the DOJ’s Tax Division, with sports being a part of his illegal profit sources. Despite his sports-related investment and financing activities, King's future looks bleak with the upcoming sentencing.
