A suburban Detroit man posted bond and awaits an Oct. 4 court appearance after he exploited a Caesars Sportsbook deposit scheme to rack up a staggering amount of bets on the app.
Members of the Lathrup Village Police Department in Michigan arrested 38-year-old Jeffrey Saco of Southfield on Wednesday, Sept. 4. He faces eight felony charges after authorities suspect he exploited a Caesars Sportsbook system vulnerability during a frantic 16-day betting binge.
During that time, Saco:
- Made more than $2 million in fictitious deposits into his Caesars sportsbook account
- Placed nearly 10,000 bets
- Wagered more than $88 million
- Then transferred more than $521,000 into his personal account.
Caesars Entertainment contacted the Michigan Gaming Control Board about the scheme. The MGCB looped in the Michigan Attorney General’s Office. Once Lathrup Village PD tracked Saco down, officers escorted him to the Grand Traverse Sheriff’s Department in Traverse City.
The MGCB announced the charges on Tuesday, Sept. 18.
“The Michigan Gaming Control Board takes the enforcement of gambling laws and regulations very seriously in this state,” MGCB Director Henry Williams said. “To that end, I appreciate the collaborative partnership the agency has with the Michigan Attorney General’s Office and industry personnel at Caesars Entertainment — who initially notified us about this situation.”
Caesars Sportsbook Deposit Scheme Charges
Michigan Attorney General Dana Nessel said she appreciates the AG’s partnership with the Michigan Gaming Control Board.
“My office not only works alongside the Michigan Gaming Control Board to enforce our state laws prohibiting illegal gaming operations, we also partner to prosecute criminals taking advantage of legitimate gaming venues,” she said.
Saco’s charges are:
- 4 counts of using a computer to commit a crime. Each count carries a maximum 10-20 year prison term and/or a $10,000 fine.
- 3 counts of felony-level illegal gambling activity. The charge includes a maximum 10-20 year prison term and/or a $10,000 fine.
- Larceny by conversion for amounts exceeding $20,000. The charge carries a prison sentence of up to 10 years and a fine of up to $15,000 or three times the value of the stolen property, whichever is greater.
“It is important to remember that this individual who is facing charges has the right to due process and is presumed innocent until proven guilty,” Williams said. “With that being said, we will now let the judicial system determine the truth in this matter and the veracity of the charges.”
The MGCB routinely includes a responsible gaming message at the end of its public updates. Its problem gambling resource page directs Michigan residents to helpful resources.
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