Damon Jones used Cavaliers championship ring as loan collateral years before FBI arrest

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Damon Jones, who was arrested final week for his alleged involvement in separate unlawful sports activities betting and rigged poker schemes, used his ring for the Cavaliers’ championship in 2016 as collateral for a $10,000 mortgage — plus a $4,000 charge — that wasn’t repaid, based on NBC Information.

Jones spent 11 years within the NBA as a participant — together with three as LeBron James’ teammate with Cleveland from 2005-08 — earlier than shifting into teaching, and he labored with the Cavaliers’ G League workforce earlier than Tyronn Lue put him on the employees by the point that playoff run started, based on The Athletic.

He allegedly took out a mortgage from Scott Kerr that was speculated to be repaid by Aug. 28, 2017, based on NBC Information, which cited paperwork.

Kerr finally filed a civil grievance in 2019 asking for “$100,000 or much less” in financial aid, the outlet added.

Damon Jones is pictured Oct. 23. AP

Observe The Publish’s newest on the playing scandal rocking the NBA:

It’s the most recent unusual twist with Jones’ involvement within the scandal that shocked the league final week, when Path Blazers head coach Chauncey Billups and Warmth guard Terry Rozier have been amongst practically three dozen folks arrested for alleged involvement within the scandals.

LeBron James and Damon Jones are pictured throughout a Might 2006 recreation. NBAE through Getty Pictures

Billups and Jones allegedly served because the “face playing cards” to attract in folks for rigged poker video games with connections to the Mafia, whereas Jones additionally allegedly supplied a tip to somebody within the betting ring that James wouldn’t play within the Lakers’ February 2023 recreation towards the Bucks.

He additionally allegedly acquired $2,500 for offering a tip that “one of many Lakers’ finest gamers in the course of the 2023-2024 season” would solely log restricted minutes due to an damage throughout a January 2024 recreation.

Nevertheless, that tip backfired when the Lakers gained the sport.

The FBI has arrested 31 folks concerned in a rigged poker recreation ring backed by the New York Metropolis organized crime households.

Ernest Aiello — reputed Bonanno mobster

Nelson “Spanish G” Alvarez

Louis “Lou Ap” Apicella

Ammar “Flapper Poker” Awawdeh

Saul Becher — skilled poker participant

Chauncey Billups — Portland Path Blazers coach, NBA Corridor of Famer and 2004 NBA champion

Matthew “The Wrestler” Daddino

Eric “Spooky” Earnest

Lee Fama — skilled poker participant

John Gallo

Marco Garzon

Thomas “Tommy Juice” Gelardo — reputed Lucchese mobster charged in 2013 for beating porn star girlfriend

Jamie Gilet

Tony “Black Tony” Goodson

Kenny Han

Shane “Sugar” Henne

Osman “Albanian Bruce” Hoti

Horatio Hu

Zhen “Scruli” Hu

Damon “Dee Jones” Jones — NBA participant from 1998 to 2009

Joseph Lanni

John “John South” Mazzola

Curtis Meeks

Nicholas Minucci

Michael Renzulli

Anthony Ruggiero Jr.

Anthony “Doc” Shnayderman

Robert “Black Rob” Stroud

Seth Trustman

Sophia “Pookie” Wei

Julius Ziliani

Jones additionally listed his Yorkshire Terrier as an asset price $1 when submitting for chapter in 2013, based on NBC Information, and he was allegedly tons of of hundreds of {dollars} in debt with what the outlet described as “persistent monetary issues.”

Three further folks filed complaints towards Jones between October 2023 and November 2024, alleging that he owed them hundreds in mortgage repayments, based on NBC Information.

Damon Jones and LeBron James embrace earlier than an April 2023 recreation. NBAE through Getty Pictures

Michael Osborne, knowledgeable gambler and sports activities bettor, instructed The Publish’s Kyle Schnitzer that Jones was a “dangerous generate gambler” who would use his relationship with James as a “enterprise card for folks to achieve some belief in opening up some doorways for him.”