Finance professor speculates on how NBA figures were caught in alleged gambling ties

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

Allegations come despite both Billups and Rozier Each has earned more than $100 million in career earnings, while Jones has earned $20 million.

With that much money, it’s fair to wonder how NBA figures got wrapped up in the alleged scandal.

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Chauncey Billups, Terry Rozier and Damon Jones were arrested Thursday. (Jaime Valdez/Imagn Images; Melissa Tamez/ICON Sportswire via Getty Images; Greg Nelson/Sports Illustrated via Getty Images)

“How could they get into a situation where they would do this? Their lifetime income was somewhere around $150 million. For most people, you can’t spend $150 million in your lifetime,” Notre Dame Finance Professor Richard Sheehan said in a recent interview with Fox News Digital.

Billups is accused of winning $50,000 playing in at least one poker game, while Rozier is accused of pocketing “tens of thousands” of dollars after his friend’s bet after he exited the game early.

Sheehan said he had seen Billups and Rozier’s net worth, which was far less than their career earnings, not add up.

“The numbers I’ve seen in terms of their net worth were around $35 and $40 million. Still, not bad at all, but I see $150 million in income, minus taxes, minus expenses, whatever. And just as a finance professor, I look at that and say, ‘His net worth should double to $4 million or $3 million.’ Simple, it should be double. And it’s not,” Sheehan said.

Sheehan blamed the possibility of “probability” hanging over athletes, resulting in the athletes paying him.

“A lot of people in the athletes’ orbs would see them as basically working ATMs,” Sheehan said.

Portland Trail Blazers coach Chauncey Billups speaks after a hearing following his arrest on federal gambling charges on Oct. 23, 2025 in Portland, Ore. Hatfield walks out of the US courthouse. (John Rudoff/Reuters)

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He also speculated about the possibility of poor financial decision-making by consultants and lawyers for large discrepancies between earnings and net worth.

“The other possibility is simply that they’ve dealt with unsavory characters, like the Mafia, that they may not have known about at the time and that’s put them in a position of compromise where they feel they need to do something,” Sheehan said, effectively reiterating the accusations of the Nirvana scheme.

However, there is one final possibility: simple stupidity and greed.

“‘I’ve got $40 million in the bank. But, you know, I’d feel a little better if I had $41 million.’ If you can do it honestly, that’s one thing. If you need to cut corners, that’s really stupid because your future income, in terms of the game, your future income will go to zero and you could end up spending a lot of time in a jail cell,” Sheehan said.

Billups, Rosier and Jones, the latter of whom is a defendant in both cases, are charged with conspiracy to commit wire fraud and conspiracy to commit money laundering. The NBA announced that Billups and Rozier had been placed on immediate leave from their team, “and we will continue to cooperate with the appropriate authorities.”

Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier (image image)

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“The integrity of our game is our highest priority,” the NBA said.

Attorneys for both Billups and Rozier have denied any wrongdoing.

“Anyone who knows Chauncey Billups knows that he is a man of integrity; people of integrity do not cheat and deceive others,” attorney Chris Haywood said in a statement.

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