take up the matter<\/a> this year.<\/p>\nOf the seven states, Missouri shares a border with, just three — Arkansas, Illinois, and Iowa — permit sports betting. In Arkansas, there is no mobile wagering. Those factors could have provided an opening for Peterson to bilk clients.<\/p>\n
What isn’t up for debate is that the perpetrator of the scheme used a hefty percentage of the $6 million he pilfered to fund his lavish lifestyle, including his own gambling habit.<\/p>\n
\u201cPeterson spent approximately $565,000 of investor funds on luxury vacations for himself and his family, personal gambling, retail, automobiles, credit card payments, a house, and made cash withdrawals of more than $90,000 of investor money,\u201d <\/strong>according to the US Attorney’s statement.<\/p>\nPeterson stole anywhere from $1,000 to $100,000 from clients. In one example, an aggrieved customer liquidated a retirement account, gave the proceeds to Peterson, only to have the criminal turn around and use the customer’s personal data to procure an American Express card. Peterson charged almost $249,000 on the card without the unidentified party’s knowledge.<\/p>\n
\u201cDue to his scheme, financial institutions and credit card companies also incurred a loss of approximately $461,000,\u201d said DOJ.<\/p>\n
Not the Only Scheme<\/h2>\n
Showing his moral compass in dire need of adjustment, Peterson duped his church out of $16,000.<\/p>\n
He used his business, AIS Travel, to supposedly book $18,000 worth of airline tickets and room reservations for a 20-person staff retreat to Cancun, Mexico in 2016. The church advanced Peterson $16,000.<\/strong><\/p>\nWhen the church group got to the airport, they discovered no reservations were made by Peterson, nor were any tickets purchased.<\/p>\n","protected":false},"excerpt":{"rendered":"
Matthew Peterson, 51, the mastermind behind a $6 million sports wagering scheme, was sentenced to eight years and one month in federal prison without possibility of parole. In levying that punishment on Wednesday, US District Judge Howard Sachs also ordered Peterson, of Kansas City, Mo. to pay $2.51 million in restitution to the victims. The […]<\/p>\n","protected":false},"author":46,"featured_media":166991,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,1074],"tags":[],"acf":[],"yoast_head":"\n
Peterson Gets 8 Years in Missouri Sports Betting Ponzi Scheme<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n