Finance professor speculates how NBA figures were caught up in alleged gambling tapes

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

The allegations come despite the fact that both Billups and Rozier have earned over $100 million each in career earnings, while Jones earned about $20 million.

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

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“How could they possibly get into a situation where they would do this? Their lifetime income was somewhere in the neighborhood of $150 million. For most people, you couldn’t spend $150 million in your lifetime,” Notre Dame finance professor Richard Sheehan said in a recent interview with Pakinomist Digital.

Sure enough, Billups is accused of making $50,000 for playing in at least one poker game, while Rozier allegedly pocketed “tens of thousands” of dollars on 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, did not add up.

“However, the numbers I had seen in terms of their net worth were in the neighborhood of $35 and $40 million. Still, not bad at all, but I look at that $150 million in income, deduct taxes, deduct expenses, whatever, and just like a finance professor, I look at it and say, their net worth should be double $35 or $40 million,” he said.

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

“A lot of people in athletes’ balls would basically see them as walking ATMs,” Sheehan said.

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

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

“The other possibility is simply that they’ve been dealing with unsavory characters like the Mafia that they may not have known about at the time, and that’s put them in compromising positions where they feel they have to do something,” Sheehan said, effectively repeating the poker scheme allegations.

However, there is one last option: Common stupidity and greed.

“‘I’ve got $40 million in the bank. But you know, if I had $41 million, I’d be a little better off.’ If you can do it honestly, then it’s one story. If you need to cut corners, it’s just really stupid because your future income, in terms of sports, your future income is going to be zero and you could end up spending quite a bit of time in a jail cell,” Sheehan said.

Billups, Rozier and Jones, the latter of whom is a 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 placed on immediate leave from their teams, “and we will continue to cooperate with the appropriate authorities.”

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

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

Attorneys for both Billups and Rozier have denied any wrongdoing.

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