Cops Bust Partner in Las Vegas Sports Book Who Embezzled Half a Mill

Written by Alex N. on 2011-08-10 at 17:10
American gambling laws - GamingZion
Ezekiel Rubalcada, a partner in ACME Group Trading, a renowned Las Vegas sports betting operator, was arrested on suspicion of a six figure theft from his own business. ACME Group operates in full compliance with American gambling laws and was originally created by Vegas handicapping legend Billy Walters.

Walters is famous for his massive wins on sports betting. 60 Minutes has given him a title of “the most dangerous bettor in the history of Nevada.” His prolific wins include a $3.5 million bet on Super Bowl and a $1 million win on a single round of golf. In other words if you want to bet on sports in US – Billy Walters is the man to consult.

Rubalcada was arrested on a 33-felony counts after the Vegas PD busted him cold. His partners say he stole a total of $482,883 from the group between Jan 18 and Apr 14. Rubalcada allegedly staged a carjacking to cover up the theft.

However police aren’t buying the story of the carjacking and are continuing their investigation. So far none of the missing money has been found. Rubalcada is out of the Henderson Detention Center on $131,000 bail and is searching hard for good bodyguards.

The incident with Ezekiel Rubalcada has also caught the eye of the Nevada State gaming regulators. Rubalcada is now suspected of violating the state messenger betting laws by placing bets for the group at various sportsbooks. Since ACME legally considers Rubalcada to be a partner rather than a paid employee, it’s now up to the regulators to uncover the manner in which he placed his allegedly illegal bets.

Jerry Markling, chief of enforcement for the Nevada Gaming Control Board, told online gambling news in United States: “If it turned out that he was in fact an investor with the company, he probably wouldn’t meet the elements of messenger betting.”

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