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A popular Las Vegas-based "life coach" has been accused of running a ponzi scheme in an effort to fund his own gambling addiction. And he's not exactly new to the game.
The SEC fined Rodney Buckle, 65, twenty years ago after investors back then lost millions, according to court documents.
Buckle was arrested on December 13 by Las Vegas Metro Police.
8 News Now Investigators are now in receipt of documents obtained by the Nevada Secretary of State's Office that show Buckle ran businesses called “Rodd United, “Rodd U,” and “Rodd One,” and referred to himself as a “life coach and financial advisor".
“Buckle offered guidance and advice on [stock accounts], other stock investments and sports betting,” investigators said. “Buckle guaranteed investors weekly return on stocks and sports betting ranging from a 1% return to 52%.”
One couple claimed he promised a 50% return on “bets he would place on their behalf,” the investigators said.
The defendant reportedly switched to an all-cash business model in receiving money from investors after initially allowing for checks.
“Investors stated that Buckle showed them a spreadsheet on his computer listing their name, and the amount they invested with him,” investigators said, “The investment amounts ranged from anything to $100 to over $700,000.”
Buckle’s codefendant, Warisra Stevens, pleaded guilty last year to securities fraud and theft conspiracy charge.
Flood of Sports Betting Ads in Canada Prompt Concerns from Parents
The early edition of Saturday’s Hockey Night in Canada featured no less than 19 sports betting commercials, according to Adrian Ghobrial, correspondent for CTV News.
That's a problem.
Ghobrial writes:
Whether you watch hockey, basketball, or any other sport on TV in this country, you currently can’t escape the onslaught of gambling advertisements being broadcast again and again, during prime time hours, while children and Canadians of all ages watch their favourite teams from coast to coast to coast.
All of this began after Ontario approved legalized sports betting earlier this year. There are a total of 68 online gambling sites regulated by the province.
A few of the broadcasters in Canada, like those in the U.S., are now producing their own gambling programs.
The Alcohol and Gaming Commission of Ontario (AGCO), charged with the regulation of the online gambling sector, sent an email to CTV National News that states “Marketing and advertising standards” are in place “to help protect vulnerable and high-risk players from wagering inducements.”
Ghobrial reports that the AGCO is currently in discussions “with Canadian advertising industry leaders” to discuss “the role they can play in managing the advertising placed by both regulated and unregulated internet gaming sites.”
These discussions coincide with an increase in complaints from parents of those worried about their own underage children engaging in the activity.
In an email, Sportsnet told CTV News: “We recognize that sports betting content and advertising represents a change for audiences and we are being extremely thoughtful about the volume and content of the commercial inventory that we are allotting to sports betting partners to ensure we continue to officer a quality viewing experience.”
Veteran sportscaster Dave Hodge and former host of “Hockey Night in Canada" is among those who warns of the negative impact this flood of sports betting advertising is now having on viewers.
Back in June, Hodge tweeted:
The outrage regarding the glut of betting ads and "programming" on TV generally, and HNIC specifically, is amazing. I expected some "get with the times" tweets reacting to mine--none of that. Viewers are angry.
Gambling affiliates in Ontario are required to "remove all evidence of inducements (such as the words bonus, promotion, and offer) from their websites," according to Affiliate Insiders. Whether they do so remains to be seen.
It's a concept that's difficult for many in iGaming to wrap their heads around.
Welcome bonuses, as well as existing customer promotions, are a huge part of iGaming companies’ marketing strategies. Some companies within this industry base their entire identities around the bonuses they’re able to offer.
- Alejandro Botticelli, Gambling911.com Senior Correspondent
