Famed Sports Bettor Vegas Dave Facing 19 Federal Charges

Famed sports bettor David Oancea, better known as Vegas Dave, is facing 19 federal charges after making various attempts to hide his gambling income. The charges center on Oancea’s alleged fraudulent use of Social Security numbers when claiming winnings. Specifically, he either made up or gave acquaintances’ Social Security digits to the Westgate SuperBook and […]

vegas-dave-sports-bettorFamed sports bettor David Oancea, better known as Vegas Dave, is facing 19 federal charges after making various attempts to hide his gambling income.

The charges center on Oancea’s alleged fraudulent use of Social Security numbers when claiming winnings. Specifically, he either made up or gave acquaintances’ Social Security digits to the Westgate SuperBook and Wynn Las Vegas.

Why did Vegas Dave Use Fake Social Security Numbers?

Authorities claim that Vegas Dave falsified the numbers to conceal $881,600 in sports betting profits. Prosecutors believe that he did this to avoid paying taxes on his winnings to the Internal Revenue Service (IRS).

What helped law enforcement build their case is the Bank Secrecy Act (BSA), which requires banks to help the government spot money laundering attempts. Given that Oancea was dealing with transactions larger than $10,000, his moves were subject to the BSA. Both Westgate and Wynn spotted fishy transactions and alerted the authorities.

vegas-dave-sports-bettor-1Rise and Fall

According to Vegas Dave’s Facebook page, he’s been in the handicapping and sports betting industry for 15 years. And with over 117,000 followers to date, he’s amassed quite a following.

Success is the obvious reasoning behind Oancea’s success. He’s made a number of bold bets and notable handicapping predictions.

This includes a 2015 Major League Baseball futures bet, where he correctly guessed that the Kansas City Royals would win the World Series (30:1 odds). Vegas Dave poured over $80k into this bet, and won $2.5 million when the Royals came through.

In addition to wagering on games, Oancea also runs his own website, where he sells prediction packages on baseball and mixed martial arts. Here’s one excerpt from ItsVegasDave.com:

“Dave has now retired from sports betting and has been pursuing Vegas Dave consulting LLC full-time. Today, he is an acclaimed sports betting consultant, providing membership packages for clientele from all over the world, putting them in a prime position to do what Dave has done successfully in the past — win at sports betting.

From what started with 5 players 4 years ago has now grown into a global business recognized worldwide with over 10,000 happy clients.”

As you can see, Vegas Dave has moved into more of a consulting role. But his entire business could be in jeopardy if he’s convicted on federal charges.

 

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