Jury indicts partner in sports betting business
A Clark County grand jury Friday indicted a partner in a sports betting operation started by gambler-developer Bill Walters on charges of stealing $482,883 from the group.
Ezekiel Rubalcada, 35, who Henderson police allege staged a phony carjacking to cover up a series of thefts, was charged with 33 felony theft and burglary counts.
The charges are the same contained in a criminal complaint filed against the Las Vegas man earlier this month in Henderson Justice Court.
The complaint will be dismissed, and the criminal case will move directly to District Court for trial. Rubalcada, who is free on $131,000 bail, is to be arraigned on Sept. 19.
Police say the money was stolen between Jan. 18 and April 14 from an M Resort betting account belonging to ACME Group Trading, a company Walters incorporated in July 2005.
Until October, Walters was the sole officer of Veg Corp. Inc., listed as the manager of ACME Group Trading.
Rubalcada placed wagers for ACME Group with money deposited into the M Resort account, Henderson police said.
He is accused of withdrawing cash from the account in amounts ranging from $2,000 to $130,000 on 16 occasions without notifying the company’s manager. Then, to divert attention from the theft, authorities alleged, Rubalcada staged the carjacking and reported it to police. He told officers the carjacker sped away with nearly $360,000 in company sports betting money left in the vehicle.
Henderson police have poked holes in the story, and the missing money has not been recovered.
Contact Jeff German at jgerman@reviewjournal.com or 702-380-8135.
