Damon Jones’ Financial Troubles and Legal Issues
Former NBA player Damon Jones, who faces accusations of providing insider information to sports gamblers, included his Yorkshire Terrier as an asset when he filed for bankruptcy in 2013. The court documents valued the dog at just $1.
A decade later, Jones was on the brink of eviction from a luxury apartment in Houston. Prosecutors allege that he texted an associate, encouraging him to wager on the Milwaukee Bucks against the Los Angeles Lakers, believing that a key Lakers player, likely LeBron James, would miss the game due to injury.
Jones transitioned from being a relatively obscure ex-NBA player and coach to one of the central figures in a major gambling scandal. He was named in two federal indictments involving illegal gambling and fixed poker games allegedly connected to organized crime.
NBC News found over 150 pages of court documents revealing that Jones has been struggling with financial issues for years. Alongside his impending eviction, he listed his 2016 NBA championship ring as collateral for a loan while grappling with debts amounting to hundreds of thousands of dollars.
“Operation Nothing But Bet” and “Operation Royal Flush” are the federal investigations into illegal gambling that were revealed on October 23, the latter involving several arrests, including that of Portland Trail Blazers coach Chauncey Billups. Prosecutors detailed the evidence gathered, which includes financial and phone records, witness testimonies, and surveillance images.
While Jones has not yet pleaded, he is scheduled for arraignment in New York, with his attorney currently not available for comment. Records indicate he owes approximately $5,600 in rent, and after failing to appear in court, a judge ruled in favor of the property management company, awarding it possession of the apartment and a monetary judgment against Jones.
Jones’ financial problems trace back to at least 2013 when his bankruptcy case was dismissed. In a subsequent filing two years later, he claimed liabilities of up to $1 million and reported debts owed to various creditors, including $47,000 to the Bellagio. Complaints regarding unpaid loans from three individuals have also emerged, culminating in accusations of failure to repay substantial amounts.
