Ex-College Basketball Player Admits Gambling Away $1.16M in Stolen Crypto Funds on Stake.com

A former college basketball player has pleaded guilty to federal wire fraud and money laundering charges after defrauding cryptocurrency investors out of $1.16 million and gambling the proceeds away on offshore casino Stake.com . Elmin Redzepagic, 25, of Wolcott, Conn., entered his plea Monday before US District Judge Kari A. Dooley in Bridgeport, according to the US Attorney’s Office for the District of Connecticut. The former Southern Connecticut State University (SCSU) basketball player admitted siphoning investors’ funds into Stake.com, causing losses of $1,159,945 to more than 10 victims. When Casino.org reported his indictment in Februar y, Redzepagic denied wrongdoing.