Accountant Admits to Role in California's Illicit Gaming
A California accountant confessed to guilt in a case involving underground gambling. It's believed that a former pro baseball player and other sportsmen are involved in the scam, as well, claimed authorities.
William Eric Fulton, a 59-year-old from Agoura Hills, admitted his wrongdoings on Tuesday to one charge of presenting false information.
Fulton worked with Wayne Joseph Nix, a 46-year-old from Newport Coast, California, who allegedly managed an illegal betting operation since 2000.
Fulton is supposed to have laundered Nix's gambling funds, according to the prosecutors.
Fulton will stand before U.S. District Judge Dolly M. Gee on November 29 for sentencing. He could face up to five years behind bars. He also agreed to pay a penalty of at least $673,290.
Money was moved between accounts, checks were issued, and clients were wired money, authorities said. Fulton also helped Nix secure bank loans.
Lies Told to the Government
Fulton told falsehoods to federal authorities about his activities, prosecutors said.
"Lying to federal law enforcement officers with the aim of concealing criminal conduct is a serious offence," Eddy Wang, Acting Special Agent in Charge of Homeland Security Investigations Los Angeles, noted in a statement.
Between March 2011 and October 2019, Fulton also made free personal loans to Nix, adding up to $1.25 million.
Nix used the funds to pay off his gambling customers, prosecutors reported.
Fulton, through Nix, also wagered personally, prosecutors added. These bets were placed through the Sand Island Sports website.
Fulton supposedly placed 14 bets on one day. Three of these were made on a match where one of his clients was involved.
Fulton also referred one or more of his clients to Nix, who would then participate in illegal gambling, according to investigators.
In October 2021, Fulton insisted to the feds that he didn't know about Nix's sports betting activities. He also claimed he didn't know Nix was a bookmaker and that he hadn't placed a bet with him.
All these statements were inaccurate, claimed prosecutors.
From 2010 to 2020, Nix handed $336,645 to Fulton.
Other Suspects
In April 2022, Nix pleaded guilty to two charges - conspiracy to operate an illicit betting business and making false tax returns. He's set to be sentenced on March 6, 2024.
Nix's companion, Edon Yoshida Kagasoff, 45, from Lake Forest, admitted in April 2022 to one charge of conspiracy to manage an illicit gambling business. Kagasoff received six months of probation, a $1,000 fine, and must forfeit $3,164,563.
Yasiel Puig Valdes, a 32-year-old former Major League Baseball right fielder, is accused of lying to the federal investigators as well.
Valdes played for the Los Angeles Dodgers, Cincinnati Reds, and Cleveland Indians. He faces charges of obstructing justice and presenting false statements.
His trial is set to take place on January 16, 2024.
The El Camino Real Financial Crimes Task Force participated in the investigation.
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Source: www.casino.org
