12 year investigation leads to sports betting ring bust
The Dallas News has reported a major bust of an illegal sports gambling ring in North Texas.
A team consisting of police forces and federal agents began investigating the operation in 2001 when the Plano Police Department was given an anonymous note naming somebody involved in "a significant gambling operation."
The investigation lasted more than 10 years and involved undercover work with an officer making small bets which gradually increased over time.
According to the article, the group of retired business execs and bookies collected more than $5 billion in sports bets over a four-year time frame.
Per the article:
The group of individuals set up a company called Global Internet Corporation which was operated out of Curacao, and handled 25 different sports betting websites. The company was established din 2002 and estimates are that it generated roughly $200 million in earnings from January 2007 through February 2011.
The ring was led by a Southlake businessman named Albert Reed, Jr.
A second excerpt reads:
The Plano Police Department will take home about $4.8 million from the case, which Police Chief Gregory Rushin says will go towards "new equipment and facilities."