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Sports Betting Associate Charged with Theft | Gaming News

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Sports Betting Associate Charged with Theft
Gaming News


A man described as an associate in a sports betting business headed by a prominent Las Vegas-area gambler and developer has been indicted on charges that he stole more than $480,000 from the group.

Ezekiel Rubalcada is due to be arraigned Sept. 19 on a 33-count felony burglary and theft indictment handed up by a Clark County District Court grand jury, court documents show.

Rubalcada, 35, remained free Monday on $131,000 bail posted after he was arrested earlier this month by Henderson police, according to the Las Vegas Review-Journal.

The indictment handed up Friday alleges that from January to April Rubalcada siphoned cash from an M Resort betting account belonging to ACME Group Trading LLC.

Rubalcada is accused of staging a phony carjacking in April and telling police that nearly $360,000 in company sports betting money was in the vehicle. Henderson police said the missing money has not been recovered.

The indictment contains the same charges as a criminal complaint initially filed in Henderson Justice Court.

The Review-Journal reported that Bill Walters incorporated ACME Group Trading in July 2005 and until October was the sole officer of Veg Corp. Inc. Veg Corp. is listed as the manager of ACME Group Trading.

 Walters is a well-known southern Nevada golf course and housing developer who was profiled earlier this year by the CBS TV news magazine "60 Minutes" as a prolific legal gambler. Walters maintained that he has never had a losing year at gambling.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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