Finance Professor Speculates How NBA Figures Were Caught in Alleged Ties to Gambling

Chauncey Billups, Terry Rozier and Damon Jones were arrested Thursday morning as part of FBI investigations into alleged illegal gambling with ties to the La Cosa Nostra crime families.

The allegations come despite both Billups and Rozier earning more than $100 million each in career earnings, while Jones earned around $20 million.

With so much money made, it’s fair to wonder how NBA figures allegedly got caught up in the scandal.

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“How could they get into a situation where they would do this? Their lifetime income was around $150 million. For most people, you couldn’t spend $150 million in their lifetime,” Notre Dame finance professor Richard Sheehan said in a recent interview with Pak Gazette Digital.

Indeed, Billups is accused of winning $50,000 for playing at least one poker game, while Rozier allegedly counted “tens of thousands” of dollars after his friend’s bets following Rozier’s early exit from a game.

Sheehan said the net worths of Billups and Rozier he had seen, which were much lower than their career earnings, didn’t add up.

“However, the numbers that I had seen in terms of his net worth were in the vicinity of $35 and $40 million. Still, it’s not bad at all, but I look at the $150 million in income, subtract taxes, subtract expenses, whatever, and just as a finance professor, I look at that and say, his wealth should be double $35 or $40 million. Easy, it should be double. And it’s not,” Sheehan said.

Sheehan blamed the possibility of “possessions” clinging to athletes, resulting in athletes giving them money.

“A lot of people in athletes’ worlds would see them as basically walking ATM machines,” Sheehan said.

Portland Trail Blazers coach Chauncey Billups leaves the Mark O. Hatfield U.S. Court following a hearing following his arrest on federal gambling charges in Portland, Oregon, U.S., on Oct. 23, 2025. (John Rudoff/Reuters)

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He also speculated about the possibility of poor financial decisions by advisors and lawyers because of the large discrepancy between earnings and net worth.

“The other possibility is simply that they have had dealings with unsavory characters like the mafia, who perhaps they knew nothing about at the time, and that has led them into compromising positions where they feel they need to do something,” Sheehan said, effectively reiterating the poker scheme allegations.

However, there is one last possibility: pure stupidity and greed.

“‘I have $40 million in the bank. But, you know, if I had $41 million, I’d feel a little better.’ If you can honestly do that, then that’s a story. If you need to take shortcuts, then it’s really stupid, because your future income, in terms of sports, your future income goes to zero, and you can end up spending a good amount of time in a jail cell,” Sheehan said.

Billups, Rozier and Jones, the last defendant in both cases, were charged with conspiracy to commit wire fraud and conspiracy to commit money laundering. The NBA announced that Billups and Rozier were immediately suspended from their teams, “and we will continue to cooperate with relevant authorities.”

(Left) Portland Trail Blazers head coach Chauncey Billups talks to a referee during a timeout in the first half against the Sacramento Kings at the Moda Center in Portland, Oregon, on Oct. 10, 2025. (Right) Miami Heat guard Terry Rozier (2) leaves the court after the game against the Detroit Pistons at the Little Caesars Arena in Detroit, Michigan on November 12. 2024. (Jaime Valdez/Imagn Images; Rick Osentoski/Imagn Images)

“The integrity of our game remains our top priority,” the NBA said.

Lawyers for Billups and Rozier have denied wrongdoing.

“Anyone who knows Chauncey Billups knows that he is a man of integrity; men of integrity do not deceive or defraud others,” read a statement from attorney Chris Heywood.