A 38-year-old Southfield resident, Jeffrey Saco, has pleaded guilty to one count of engaging in illegal gambling activities after a multi-year investigation came to a close. Saco is accused of fraudulent activities relating to his Caesars Entertainment account – activities that could see him face up to 10 years in prison.
At the conclusion of the investigation, Saco admitted to exploiting a system vulnerability in the Caesars betting app to make more than $2 million in fictitious deposits to his account.
Through April and May of 2023, Saco wagered more than $88 million across 10,000 bets and transferred more than $520,000 to his personal accounts.
Before pleading guilty, Saco faced eight felony charges:
● Larceny by conversion
● Gambling activity – felony violation
● Using a computer to commit a crime
By pleading guilty, Saco has reduced his charges to one count of engaging in illegal gambling activities (gambling activity – felony violation). As part of the agreement, Saco agreed to make an initial $25,000 payment to Caesars and will pay monthly restitution payments of $2,500.
Saco has been placed on 36 months' probation, during which he will continue to make his monthly restitution payments. Upon completion of this probationary period, the remaining debt will be handled via a promissory note.
Failure to comply with his probationary period will result in a 90-day prison sentence.
