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Two Casino Sports Betting Rings Indicted

A grand jury has indicted 30 people in two separate incidents of casino sports betting rings. The sports betting rings were allegedly sanctioned by organized crime units. Two large casino sports betting rings have been busted and thirty people have been indicted in what police are calling a large raid against organized crime units. The two sports betting rings are said to be backed by organized crime elements, which made their busting even harder, yet more satisfying for the law enforcement agencies. A grand jury has indicted the 30 on charges of racketeering and other crimes related to the illegal casino sports betting organization.

The first illegal casino sports betting ring was broken up in January after police monitored the group’s operations using court-approved wire taps and close surveillance. The casino sports betting ring managed to generate more than $3 million a month in bets, according to the Attorney General’s office. Investigators have identified the 41-year-old casino sports betting ringleaders as Raymond “Scarface” Jenkins of Providence and Richard Angell of North Providence.

The grand jury also indicted members of a second casino sports betting ring that prosecutors said operated in 2004 and 2005. Police identified the casino sports betting ring leader as Joseph Achille, 70, a purported leader in the Patriarca crime family. Organized crime elements are said to be heavily involved in sports betting operations and the police hope with this bust, it will give them leads to other illegal casino sports betting operations. The accused ring members are scheduled to be arraigned on May 3.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.