BetGrande.com players plead guilty in illegal sports betting case

Sports bettor Glen Cobb, his stepdaughter, and his 82-year-old parents pleaded guilty in a long-running investigation of a multi-million dollar illegal gambling operation on Monday.

IRS agents had been investigating the Cobbs since 2002 but the investigation first hit the courts after a raid in December 2013 where agents seized $10.5m from Cobbs investment and bank accounts, along with computers, cellphones, hard drives, and other properties and $2.7 million from Glenn Cobbs’s home.

The four defendants have been indicted of running the illegal bookmaking operation from March 2011 through December 2013 and unlawfully organizing the cash transactions through the casinos between December 2008 and November 2013.

The Cobbs were also charged of structuring financial transactions to hide $2.6 million from the IRS—$1.4 million at the Mirage, $503,303 at the LVH resort, $199,500 at The Venetian, $183, 500 at the South Point and $79,350 at the Fremont and $256,136 at Bank of America—but those charges were dropped as part of the plea deals.