Former NBA star Gilbert Arenas bonded out of jail on Wednesday (July 30) after being arrested for his alleged involvement in a high-stakes illegal gambling operation. According to reports, Arenas posted a $50,000 bond following a court appearance earlier in the day.
Arenas appeared to deny any connection to the charges via Instagram, captioning a post: “This ain’t got shyt to do with me.”
The three-time NBA All-Star and host of Gil’s Arena was named in a federal indictment alongside five other individuals. He faces charges including conspiracy to operate an illegal gambling business, operating an illegal gambling business, and making false statements to federal investigators. Each charge carries a maximum sentence of up to five years in prison.
At a press conference on Wednesday, federal prosecutors alleged that Arenas rented out an Encino mansion he owned to serve as the venue for the poker games. They claim Arenas directed co-defendant Arthur Kats, 51, of West Hollywood, to stage the property for gambling events, recruit additional hosts, and collect rent from those involved on Arenas’ behalf.
Source: YouTube
