NBA Player Malik Beasley Targeted in Federal Betting Investigation

Malik Beasley, a free-agent guard in the NBA, is the subject of a federal investigation initiated by the US Attorney's Office for the Eastern District of New York. Authorities are examining possible involvement in wire fraud, gambling violations, and illegal prop betting activity.

Malik Beasley, currently a free-agent guard in the NBA, on the court as a Milwaukee Bucks player. (Source: Getty Images)
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Although Beasley has not been charged with any crimes, the inquiry has reportedly impacted his professional prospects. The Detroit Pistons have withdrawn a proposed three-year, $42 million contract offer amid the ongoing investigation.

Related: Jontay Porter Faces Criminal Charges over NBA Betting Scandal

Federal investigators reportedly began looking into Malik Beasley after a major sportsbook flagged suspicious betting patterns on his prop bets in early 2024, according to ESPN. One notable instance occurred during the Milwaukee Bucks' January 31, 2024, game against the Portland Trail Blazers.

Ahead of that matchup, heavy wagering on Beasley finishing with fewer than 2.5 rebounds caused the odds to shift dramatically, going from approximately +120 to -250. Despite the betting movement favoring the Under, Beasley ended the game with six rebounds.

The probe into Beasley may also be linked to a broader federal investigation involving six individuals accused of conspiring to defraud a sports betting company. The allegations center around the possible manipulation of betting outcomes and misuse of insider information.

Among those already charged is Toronto Raptors guard Jontay Porter, who has pleaded guilty to a single count of conspiracy to commit wire fraud. Porter is currently awaiting sentencing. Four others connected to the case have also entered guilty pleas, highlighting the scope and seriousness of the federal inquiry.

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Financial Troubles Following Beasley

While federal investigators continue to assess Beasley's potential role in the betting-related scheme, no formal accusations or indictments have been issued against him. Nonetheless, the FBI's interest in Beasley adds to a series of financial and legal difficulties that have surfaced in recent months.

Court records and civil filings reveal that the 27-year-old basketball player is currently burdened with nearly $8 million in debt, stemming from multiple lawsuits and financial disputes.

In April, Hazan Sports Management Group filed a federal lawsuit against Beasley, claiming he failed to repay a $650,000 advance that was issued based on expected future marketing revenue. The agency alleges that Beasley breached the terms of his four-year contract, signed in November 2023, by terminating the agreement early and signing with a different representation after just 15 months.

The suit seeks more than $2 million in damages, including legal costs, and claims that attempts to recover the advance have yielded only sporadic and inconsistent repayments from Beasley.

Beasley also faces a significant judgment from South River Capital, which secured a $5.8 million decision against him more than three years ago for defaulting on loan agreements. In addition to that obligation, Beasley entered into another loan arrangement last year, using both his current and anticipated NBA contracts as collateral. This strategy has done little to mitigate his financial strain, as smaller debts have also accumulated over time.

He was sued twice earlier this year by his Detroit landlord over claims of unpaid rent. A celebrity barber successfully obtained a $26,827 judgment, and a Minnesota dentist was awarded a $34,390 default judgment. The dentist has begun garnishing Beasley's wages from his previous tenure with the Pistons.

Hazan Sports Management, according to media sources, has filed a request for an extension in its suit against Beasley, emphasizing not only the breach of contract but also Beasley's failure to fulfill repayment terms after canceling his contract with the agency in February. The firm contends that despite repeated requests for payment, it has received only limited and sporadic reimbursements along with vague assurances of future repayment.

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