Novig Sues Missouri: What It Means for Bettors
Alex Harper • Oct 20, 2026 The case matters to anyone who sends crypto to a stranger or plays at offshore online casinos. At CasinoUS, we cover what happened, what the charges mean and which red flags to watch.
How the Stake.com Crypto Fraud Worked
The scheme lasted from May 2021 until March 2025. At the start, he still wore an SCSU jersey. He sold himself as a gifted crypto investor who answered to a shadowy boss nicknamed “The Chef.”
Once victims sent money, he claimed they’d earned big profits and asked for “gas fees” before any withdrawal. In crypto, a gas fee is a real network charge for processing a transaction. However, he borrowed the term to squeeze extra cash out of them.
Meanwhile, every deposit landed at Stake.com. His account there held funds, produced Bitcoin deposit addresses and covered his bets. Also, he paid out occasional “lulling payments,” which kept victims calm and investing.
Charges at Indictment vs. Guilty Plea
Charges in the Stake.com crypto fraud shrank between January and October, but the loss figure grew.
| At indictment (Jan–Feb 2026) | October 2026 guilty plea | |
| Wire fraud | 7 counts | 2 counts |
| International money laundering | 11 counts | 1 count |
| Lying to IRS investigators | 3 counts | 1 count |
| Reported losses | About $950,000 | $1,159,945 |
| Victims | Multiple | More than 10 |
| Plea | Not guilty | Guilty |
Wire fraud means using phone, email or online messages to cheat people out of money. International money laundering means moving crime money across borders to hide it or keep a scheme going. Each of those counts has a 20-year maximum sentence.
The false statement charge stems from a September 2023 IRS interview. He credited a man called “Greg” with doubling investors’ cash, yet investigators found no such person. That count has a five-year cap.
Why Stake.com Makes This Case Different
Stake.com is an offshore crypto casino licensed in Curaçao, so no US state regulator oversees it. Stake.com’s own terms also bar anyone located inside the US. Because of this, US players usually see the Stake.us sweepstakes site instead.
Crypto made the scheme easier to hide and harder to undo. Bitcoin transfers settle fast, and nobody can reverse them like a card charge. So players should treat crypto casino deposits with extra care, even at well-known sites.
Also, US gambling laws differ from state to state, so check yours before you deposit.
Stake.com Crypto Fraud Red Flags to Watch For
Every warning sign in this case shows up in other crypto scams too.
- Promised high returns from a trader you never meet
- Profits you can see but can’t withdraw
- Surprise fees before you can cash out
- Payouts that arrive right when you start asking questions
- Deposit addresses tied to a casino or betting site
If you spot any of these, stop sending money and save every message and wallet address. Next, report it to the FBI’s Internet Crime Complaint Center at ic3.gov. Many of the same tricks show up in online casino scams, from fake sites to bonus traps.
The Gambling Problem Behind the Fraud
Gambling-linked fraud tends to follow one path: fast deposits, growing losses and new cash to cover old holes. For example, the vet clinic manager in West Virginia who bet away $624K drained clinic funds the same way.
If gambling feels harder to control, act early. Chasing losses, hiding play and borrowing to bet are classic gambling addiction warning signs. Simple steps like deposit caps and cooling-off breaks can help, and 1-800-GAMBLER offers free support 24/7.
What’s Next After the Stake.com Crypto Fraud Plea
Redzepagic hears his sentence on January 11, 2027, and stays out on $500,000 bond until then. The court can also order restitution, which means paying victims back.
For crypto investors, the takeaway is clear: if you can’t withdraw without paying first, treat it as a scam.
