A high-profile sports betting tout has been indicted on charges of using bogus Social Security numbers to open betting accounts at Nevada casino sportsbooks.
On Wednesday, a federal grand jury indicted Dave ‘Vegas Dave’ Oancea for allegedly opening sportsbook accounts with at least two Social Security numbers other than his own – some belonging to other people, others apparently pulled out of thin air.
Oancea used the bogus accounts to make wagering transactions worth $3.5m with sportsbooks at the Wynn Las Vegas and Westgate Las Vegas casinos. Federal prosecutors say the bogus accounts resulted in these casinos filing “at least 137” inaccurate Currency Transaction Reports, which federal law requires for all transactions over $10k.
Oancea is facing nine charges of misusing Social Security numbers and another 10 charges of causing the casinos to unknowingly file false transaction reports. Prosecutors are seeking the forfeiture of $881,600 Oancea reportedly won from the books via these bogus accounts. Oancea has a date with a Nevada judge next week to further discuss the matter.
Oancea runs a sports betting tout service and claims to have retired from active sports betting to focus on his role as a “sports betting consultant.” Oancea has yet to publicly comment on the indictment via his website or social media channels.
Oancea’s self-reported claims of betting success have made headlines over the years, including winning $2.3m via a futures bet on the Denver Broncos winning the 2016 Super Bowl and a nearly $2.5m futures payday thanks to Kansas City’s World Series triumph in 2015.
Following his Kansas City jackpot, Oancea revealed that he’d had difficulty finding takers for his $100k futures bet, forcing him to “spread it out” over 10 different sportsbooks.
It’s been a rough month for Vegas sports betting luminaries, following Billy Walters’ conviction last week on multiple counts of insider trading. Walters faces up to 20 years in stripes when he’s sentenced on July 14.