Adam Meyer, Sports Betting Pro to the Stars, Indicted in $25 Million Scam
Adam Meyer, the president and chief executive officer of sports betting consulting firm Real Money Sports Inc., has been indicted on federal fraud, racketeering, extortion, and brandishing-a-firearm charges by a federal grand jury in Milwaukee after allegedly orchestrating an elaborate plot that scammed the victim of millions over several years and involved threats from a made-up entity.
Meyer, 42, was arrested at his Fort Lauderdale-area home by federal agents on Tuesday but was taken to a hospital after complaining of chest pains. After seeing doctors, he was released back into the custody of federal agents.
According to the six-count indictment, which was issued last week, Meyer allegedly threatened to scam $25 million from a man who apparently sought his advice on sports betting.
Meyer, who is a professional sports handicapper, charges thousands of dollars from clients looking for advice on sports betting, from college sports to pro sports. He reportedly cleaned up after the Green Bay Packers beat the Pittsburgh Steelers in Super Bowl XLV.
Using what he says are computer analyses, hundreds of sources in sports, and his own instincts, Meyer has billed himself as "sports consultant to the stars," boasting on his website of having A-list celebrities as some of his customers.
But according to the indictment, issued in U.S. District Court for the Eastern District of Wisconsin, Meyer scammed a Fond du Lac-area man identified as Victim A of millions.
Victim A had been a client of Meyer's beginning in 2007. At one point, Meyer referred Victim A to another bookmaker who ended up being an associate's of Meyer's. Victim A was led to believe this bookmaker was independent and not working with Meyer at all.
In 2008, when Victim A began to cut back on purchasing advice from Meyer, he was suddenly told that the independent bookie was threatening Meyer's life over a large gambling debt and that the bookie was also holding Victim A responsible for said debt. Meyer falsely told Victim A that their lives were in danger, according to the indictment.
Victim A was also told a man named Ken Wong was looking to collect the debt. Wong began collecting the debt from Victim A by threatening his family, which led the victim to transfer millions of dollars over to Wong.
According to the indictment, Wong was actually Meyer's alter ego.
When Victim A began refusing to pay any more money, Meyer and another man flew to Milwaukee to meet him. At this meeting, the unidentified man pulled a gun on Victim A and demanded $9.8 million be transferred to Meyer's account, which he did.
The indictment says Meyer collected more than $25 million from Victim A between 2009 and 2012.
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"Mr. Meyer preyed on his victims with threats and intimidation, extorting funds to support a lavish lifestyle," Philip R. Bartlett, the inspector in charge of the New York Office of the U.S. Postal Inspection Service, said via a statement. "Postal Inspectors and their law enforcement partners put an end to his racketeering reign of terror."
Authorities credit the Broward County Sheriff's Office with assisting the U.S. Postal Inspection Service and New York City Police Department in apprehending Meyer.
Meyer's attorney, meanwhile, has said that the charges in the indictment "are not completely accurate."
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