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On one of the biggest betting days of the year, Legends Sports founder and father of 7, Bartice “Luke” King of Spring, Texas has been convicted of running a $1 billion sports betting enterprise.
A jury in an Oklahoma City courtroom found King guilty with sentencing yet to be scheduled. King was highly regarded within the offshore sports betting community and ran his business since 1996 before the Feds forced it shut down two years ago.
Legends Sports (sometimes referred to as Legendz) once operated in Costa Rica within the Mall San Pedro along side BetOnSports.com, a company that in 2007 was also forced to shut down following a series of indictments. Legends relocated to Panama City, Panama in 2002 where it thrived for close to ten years.
According to the United States Government, King was indicted for illegal gambling and conspiring to commit money laundering. Prosecutors say he used his profits to live a lavish lifestyle that included a $2 million mansion in the exclusive Palmer Woods community in The Woodlands.
The investigation began over a decade ago and culminated from an unrelated drug investigation, according to Court documents. A former disgruntled employee of Legends is believed to have cooperated with US authorities.
At the time of its closure, Legends Sports customers balances were transferred to another betting business in Costa Rica.
King had been facing up to 25 years in prison but was found Not Guilty of the first and most significant charge against him - conspiracy to conduct Legends Sports through "racketeering activity" (RICO). His attorneys are hopeful he can serve probation in lieu of prison time.
- Chris Costigan, Gambling911.com Publisher
