A California man has admitted to running an illegal sports betting business, evading taxes, and laundering the proceeds. Christopher Scott King facilitated the illegal betting through a Costa Rica-based website, avoiding paying taxes on income of $13.6m between 2019 and 2022.
laundered the profits through gold and real estate investment projects
King laundered the profits through gold and real estate investment projects. His obligations to the IRS are $3.8m, and he must forfeit $10m as part of his plea agreement.
Sentencing in the case is set to take place on September 9. Each tax evasion count carries a five-year prison sentence, and ten years for the money laundering charges.
