He ripped off more people than Ponsi. He had the moral fiber of  The National Library of Poetry. He was a bigger villain than Lex Luther. The quality of his gambling information was only surpassed by the stuff Art Schlichter used. And tonight he’s releasing his Game of the Year….FROM JAIL! Now I’m not one to delight in another’s misfortune, but in this case I’ll make an exception. They finally locked up Jack Price. Orange jumpsuit, bars on windows, silver arm bracelets. The works! Oh how the mighty have fallen.

 

It wasn’t long ago you could find him everywhere, imploring you to “trust him” and he would make you rich. He swindled. He fleeced. He lied. He made money hand over fist, and he’d still being doing it today, if not for two fatal flaws. 1.Uncontrollable Arrogance and 2. Greed. There wasn’t anything this guy thought he couldn’t get away with, and he was almost right…

 

You see Jack Price didn’t buy his ticket to the big house because he defrauded people (thousands of them). He didn’t go for credit card fraud, opposite siding, deceptive business practices, or even horrible picks. The Fed’s weren’t tipped off by the HBO special, a disgruntled client didn’t rat him out. In fact to this day, nobody seems to give a damn about the scams he was running.

 

No, nothing happened until the day he decided he wanted to be a bookmaker. Yes, he actually started his own offshore Casino. Only problem was, he was running it from Atlanta right here in the US of A. Like I said, this guy had delusions of grandeur and thought he was untouchable. So there he was, charging people thousands of dollars for games you could “bet the house on,” and all the while recommending that those same games be played at HIS casino. I’m sure he tried his best to win….

 

From the winter of 95 to the spring of 98, The Paradise Casino conducted bookmaking activities. They made millions. Then, the Feds stepped in, and it all came crashing down. They must have really had the goods on Old Jack, because On January 29th 2000, Price copped a plea. He pled guilty to running a multi million dollar bookmaking operation, impairing the Internal Revenue Service, money laundering, and violating the federal Wire Wager act. His office building (where he ran 24 different sports services under various names) was seized, along with a rare sports car and a condominium. He agreed  to pay 11.4 million dollars in back taxes, interest and penalties, but still faces fines of up 3.5 million additional.

 

Isn’t it scary to think this guy actually had the 11.5 million dollars to pay?

 

I wasn’t at the sentencing hearing, so I don’t know exactly how much jail time he got, but he was facing up to five years. But don’t be sad. No tears. They tell me as of this writing (8/1/2001) that he’s been released. So although Jack Price was “away” for a little while, have no fear…. Johnny Demarco and Jimmy the Fixer were around the whole time to pick up the slack…

 

Read the Newspaper Article

 

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