Sports betting

SEC triumphs in $30m sports betting Ponzi-scheme case

Nevada Federal Court makes landmark ruling on case which involved over 600 investors in more than 40 states

The US Securities and Exchange Commission (SEC) has won a lawsuit over an alleged $30m Ponzi-style sports betting scheme which ensnared more than 600 investors in over 40 states. In a summary ruling, judges in the Nevada Federal Court ruled in favor of the SEC against primary defendants Douglas Martin and Damian Ostertag before ordering…

Nevada | Ponzi | Securities and Exchange Commission | Sports betting