Ezel Rubalcada was charged for stealing $482k from a sports-betting operation. The operation was started by Bill Walters. Rubalcada pleaded guilty to the charges in District Court in 2013. He was indicted on 33 felony burglary counts and felony theft in 2011.
Rubalcada was freed on a $131,000 bail. However, his case was moving slowly in the justice system. As part of his agreement with prosecutors, he pleaded guilty to two of the theft charges. He was accused of withdrawing cash from that account that arranges from $2,000 to $130,000 on 16 different occasions.
Back in 2011, Walters who is also known as a golf course developer told the CBS broadcast “60 Minutes” that his gambling operation had as much as $2 million at risk at Las Vegas sports during the professional football weekends, and even at times the betting lines were moving.
Billy Walters is a gambler who wins with a spectacular style. As a scratch golfer, he had won $400,000 on a single hole. The wagers he had for the Super Bowl netted a $3.5 million on its payday.
In 1986 his roulette marathon at Atlantic City’s Golden Nugget, he became $3.8 million richer. Walters told a writer, “If you’re committed to being a professional gambler and you want to be the best you can be, you spend every waking moment trying to figure out a way to beat the game”, according to http://www.sandiegouniontribune.com/news/2014/jun/13/billy-walters-gambler-extraordinare/.
However in 2014 an investigation occurred. The Wall Street Journal and The New York Times reported that the federal agents have been investigating if the corporate raider Carl Icahn performed an advance stock trade information to Walters about Clorox. This was allegedly occurring as Icahn was climbing up voluntarily takeover bid for that company. It has been alleged that the gambler was passing tips to professional golfer, Phil Mickelson.
As the investigation was occuring, holes began to appear in the story. New York Times reported that their sources who connected Mickelson with the probe admitted they were wrong.
According to the New York Times, Icahn and Walters are still under investigation for the Clorox trades.
Both Mickelson and Walters have still been under investigation over trades that were made in Dean Foods. Authorities involved with the case would not confirm or deny the existence of the probe. Walters did not respond to any requests that were made for an interview.
Walters has suffered a lot of major setbacks as a gambler and as a father. In the year 2011 the show “60 Minutes” looked at his past. Before the show had even aired, John L. Smith, a Las Vegas Review-Journal Columnist remembered that many people guessed that Walter’s luck was going to be snapped.
Smith always shrugged those comments off. He did not think it was possible for Walter’s luck to run out.
Walters grew up in Munfordville, Kentucky. His family was very poor. There is a poker background in his family history. His father was an avid poker and his uncle was a professional gambler. Billy’s first wager was made at the age of nine. For his first wager, he staked his paper route money on the Yankees during the World Series in 1955. The Yankees lost to the Dodgers in seven games, but however he became hooked.
In the year 1982, he became a bookie. By doing this, he broke Kentucky law. After he was fined $1,000 he moved to Las Vegas. The reason he moved to Las Vegas is because gambling is heavily celebrated there.
He has played table games, but he is a notorious sports bettor. Walters has been known to do everything possible to make the calculations sharper and have the risk be minimized.
Walters is someone who has been indicted several times. Even though he has been indicted several times, he has only been brought to trial once. In 1992, he was charged with illegal bookmaking. The defendant in this case was acquitted. Skip to 2011, he triumphed as a plaintiff too. He trusted Rubacalda with 483k cash to place the bets at. This scheme was quickly unraveled by the police. Rubacalda originally told police he lost the car and $360k cash. Police were quickly able to determine that the sum total was the same as the amount he already transferred out of the accounts that belonged to Walter’s ACME Group.
Currently, Rubacalda is on probation and was given a four year sentence suspension. Many people like to participate in schemes, especially in the gambling world. It is important for everyone who likes to participate in the gambling industry to always be aware that schemes take place in a consistent basis. This is why Bill Walters is the most successful and most controversial better.