The unsealed federal indictment, filed in the Eastern District of New York, alleges that Beasley accepted bribes to manipulate his on-court performances during his tenure with the Milwaukee Bucks. This allegedly let co-conspirators cash in heavily on targeted prop bets and wagers.

The laundry list of accusations include wire fraud conspiracy, bribery in sporting contests, honest services wire fraud conspiracy, and money laundering conspiracy. According to reporters, Beasley appeared relaxed during his arraignment.

Following the formal pleas, U.S. Magistrate Judge Taryn Merkl granted both Beasley and Zamorano $100,000 bond packages with suretors (including Beasley’s parents). The relatively low figure raised eyebrows in the gallery, given that Beasley’s career NBA earnings are nearly at $60 million. He last had a $6 million contract with the Detroit Pistons.

The judge appeared to grant Beasley “extra points” for his cooperation, noting that he had been aware of the year-long federal investigation and chose to surrender rather than forcing an arrest.

Malik Beasley’s Bucks tenure under scrutiny

The prosecutors allege that Beasley tipped off Davis regarding whether he intended to underperform or overperform statistically. Davis then allegedly funneled this insider information to Zamorano and other co-conspirators, who placed hundreds of thousands of dollars in fraudulent wagers.

While the legal battle continues, Beasley’s attorney, Jason Goldman, addressed the media later, shifting the narrative to the NBA’s regulated sports betting.

“We can’t ignore that leagues and lawmakers have aggressively embraced and promoted sports gambling, normalizing an industry that has fueled widespread addiction and financial hardship,” Goldman stated. “If we are going to have an honest conversation about these issues, it cannot begin and end with individual athletes while the institutions that have profited billions, escape scrutiny.”

While he’s out on bail, he’s got a notable logistical wrinkle.  Beasley must surrender his passport as a condition of his release. The court was informed that the Detroit IRS currently holds the document for unconfirmed reasons.

Beasley had played until May for Bad Bunny’s basketball team in Puerto Rico before being released after a slow start. While he wouldn’t have needed a passport if he still played there, he’s got no chances of signing with an overseas team while he fights this case.

His legal team has until July 15 to coordinate a retrieval of the passport. The defendants, who face up to 20 years in prison if convicted on the top counts, are scheduled to return to court for a status conference on August 6 as part of a widening federal crackdown on NBA-linked gambling rings.