After $88m wagered… Michigan resident pleads guilty to gambling charge
38-year-old Southfield man, Jeffery Saco, has submitted a guilty plea to one count of engaging in illegal gambling activities.
Key Points
- Jeffery Saco has pled guilty to engaging with illegal gambling activities in Michigan
- Saco exploited a weakness in Caesars’ system to deposit $2m and wager over $88m
- He subsequently deposited a total of $521,000 into his personal account – which is now being paid back in $2,500 monthly installments
Southfield, Michigan resident Jeffery Saco has officially pled guilty to one count of engaging with illegal gambling activities, following an investigation into his case by the Michigan Gaming Control Board (MGBC) and the Michigan Department of Attorney General.
The investigation into Saco began after Caesars Entertainment’s system flagged suspicious activity relating to his account in 2023. More specifically, Saco deposited a total of over $2m into his account, subsequently placing $88m in wagers by exploiting a system vulnerability – finally taking home winnings totaling $521,000, deposited into his personal account all within the space of a month. Saco then removed himself from the Caesars platform.
Indeed, Saco has now admitted to the utilization of the system error to conduct the above activities between April 2023 and May 2023. His plea agreement has seen an initial payment of $25,000 to Caesars Entertainment, with monthly repayment installments of $2,500 to be made throughout the duration of his 36-month probation sentence. Additionally, Saco was sentenced to 90 days in jail – of which he served two.
MGCB Executive Director, Henry Williams, commented on the sentencing, saying, “This plea agreement is an important step in ensuring that individuals who violate state gaming regulations are held accountable for their actions. We will continue to work closely with the Michigan Attorney General’s Office and industry partners to maintain the integrity of Michigan’s gaming industry.”
Good to know: Saco is also required to attend Gamblers Anonymous as part of his rehabilitation
April has been a busy month for the MGCB, who has taken action against numerous illegal offshore gambling sites during the month, as well as issuing 13 cease-and-desist letters to illegal sites in the state.
For Caesars, this latest update comes following a separate legal verdict this week which ruled against the operator and in favor of Tipping Point Gaming – who is now set to receive $15m in damages from Caesars Entertainment.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
