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Robert Gorodetsky Pleads Guilty to $9.6 Million Wire Fraud Scheme

  • The 27-year-old faces charges of fraud and falsifying a tax return
  • He allegedly stole $9.6m from an investor over a five-year span
  • Gorodetsky promised he'd use the funds for stock market investments, sports betting
  • Instead, he used the individual's money to fund his own lavish lifestyle
Andrew O’Malley

money scam
Robert Gorodetsky has pleaded guilty to committing fraud worth $9.6m after he went back on his promise to use an individual’s funds for stock market investments and sports bets. [Image: Shutterstock.com]

A rude awakening

Robert Gorodetsky, who is facing federal charges for allegedly operating a $9.6m wire fraud scheme, has pleaded guilty in a Chicago federal court. The high-rolling, 27-year-old gambler received the charges in January in relation to the filing of a false tax return and fraud.?

The allegations are that he stole $9.6m from an investor between 2014 and 2018. The individual, who is not named, is being referred to as “Individual A” in the charging document.?

Funding a lavish lifestyle

Gorodetsky had allegedly promised the said investor that he would also be using his own funds to invest in the stock market, as well as to make sports bets. The profits and losses would then be shared.

More than $2.2m of the money was used by Gorodetsky to fund his lavish lifestyle, buying exotic cars and jewelry.?

more than $2.2m of the money was used by Gorodetsky to fund his lavish lifestyle

After initially getting $953,000 in 2014, Gorodetsky told the investor that the money had grown to $2m, and that he would continue using the funds to place wagers on sports. In reality, Gorodetsky used the money accrued for personal purposes.?

The infamy of Gorodetsky

Gorodetsky first came to prominence through “Is this the future face of sports gambling?”, a 2017 USA Today profile of his lifestyle. Reporters followed him over the course of seven days as he partied with celebrities and bet more than $1m on sporting events.

Gorodetsky and his close friends believed at the time that he could be one of the best sports bettors in the country. However, the writers of the feature were unable to figure out the source of his continuous funds. Three years later, it all became clear after the pressing of federal charges and the guilty plea.

Gorodestky has been known to claim he bet $27m on sports during 2017, and that he is “banned for life” from Las Vegas casinos.?

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