Former NBA Player Malik Beasley Negotiating Plea Deal in Gambling Scandal

Former National Basketball Association (NBA) player Malik Beasley, indicted by U.S. prosecutors in June for his alleged participation in a gambling scheme, is negotiating a plea agreement with the Department of Justice (DoJ), according to the Associated Press.

Beasley’s attorney told AP they were negotiating an agreement with the government “with an expected direction in the coming days.”

Alleged Scheme Involved Insider Information

Beasley and former NBAer Ed Davis were among six people indicted on federal charges this summer, with Beasley accused of sharing insider information with gamblers and manipulating his on-court performance, under- or over-performing bookmakers’ expectations around points and rebound totals, as a member of the Milwaukee Bucks during games in 2024 to rig bets, enrich sports bettors, and ease his own debts.

Beasley and Davis allegedly worked closely together on the betting scheme, with Davis said to have funneled insider information to gamblers, who then placed wagers in the hundreds of thousands of dollars and netted massive payouts when Beasley hit his numbers.

Millions in Gambling Losses

Charges included wire fraud conspiracy, bribery in sporting contests, honest services wire fraud conspiracy, and money laundering conspiracy, according to the U.S. Attorney’s Office for the Eastern District of New York.

Beasley pleaded not guilty in July.

According to AP, Beasley racked up millions of dollars in gambling losses and borrowed money from Davis. ESPN reported in March that a federal judge in New York ruled in Beasley’s former sports agency’s favour in a contract dispute and issued a $1 million civil judgment against Beasley. Money generated from the gambling scheme paid down the debts.

Nearly $60 Million in Earnings

If convicted, Beasley faces up to 20 years in prison on the wire fraud conspiracy counts, an additional 20 years on the money laundering conspiracy charge, and up to five years for the sports bribery counts.

Beasley last played with the Detroit Pistons in the 2024-25 season, when he started 82 games and averaged 16.3 points per game. 

His salary that final season with the Pistons was $6 million. According to Spotrac, he earned more than $59.9 million over a 10-year career.