On Point with Meghna Chakrabarti What the NBA betting scandal reveals about the mafia today
Nov 14, 2025
Michael Franzese, a former Colombo family capo, shares insights on the modern mob's evolution, reflecting on his own criminal past. Jim Walden, a former Assistant U.S. Attorney, provides a legal perspective on mafia investigations and the importance of informants. Investigative journalist Tony DiStefano discusses how technology aids organized crime, including rigged poker games. Together, they explore how today’s mafia has shifted from violence to complex financial schemes, making sports betting a hot target for their operations.
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High-Tech Rigged Poker Operation
- Federal prosecutors indicted NBA figures and mob associates in a large rigged-poker and illegal-gambling ring.
- The scheme used altered shufflers, X-ray tables, and hidden cameras to fleec e victims out of huge sums.
Old Families Still Control Gambling Rackets
- U.S. Attorney tied the scheme to Bonanno, Gambino, and Genovese families taking cuts and enforcing debts.
- La Cosa Nostra still leverages pre-existing control over gambling venues to insert rigged operations.
Gasoline Tax Fraud Empire
- Michael Franzese described running a massive gasoline tax-fraud with shell companies and hundreds of stations.
- He says at the height they moved half a billion gallons monthly and he paid heavy penalties after conviction.
