The Michigan Gaming Control Board (MGCB) has confirmed that a man from Southfield is facing eight felony charges related to gambling violations in the state.
In April 2023, Jeffrey Saco allegedly made over $2 million in fictitious deposits into his Caesars Sportsbook online account by exploiting a glitch in the operator’s system.
Saco is said to have placed nearly 10,000 bets within 16 days, totalling $88 million, before withdrawing more than $521,000 and ceasing activity on the sportsbook.
The charges followed a joint investigation between the MGCB and the Michigan Department of Attorney General.
The eight felony charges issued to Sarco include larceny by conversion, gambling activity-felony violation, and using a computer to commit a crime.
The charges are punishable by fines of up to $100,000, and/or a custodial sentence of up to 20 years.
Saco was arrested on September 4 and arraigned the following day. He was released on a $500,000 personal bond.
“My office not only works alongside the MGCB to enforce our state laws prohibiting illegal gaming operations, we also partner to prosecute criminals taking advantage of legitimate gaming venues,” said Michigan Attorney General Dana Nessel.
“I appreciate our partnership with the Michigan Gaming Control Board and share their dedication to enforcing our state’s gaming laws.”
The preliminary examination of the case is scheduled for October 4.