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		<title>Congress summons NBA Commissioner Adam Silver over massive gambling scandal</title>
		<link>https://www.ourstoryinsight.com/congress-summons-nba-commissioner-adam-silver-over-massive-gambling-scandal/</link>
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		<pubDate>Mon, 27 Oct 2025 11:41:47 +0000</pubDate>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[Adam]]></category>
		<category><![CDATA[commissioner]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[gambling]]></category>
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					<description><![CDATA[<p>The Commissioner of the National Basketball Association (NBA), Adam Silver, has been asked by the US Congress to provide a briefing concerning the recent gambling scandal that has rocked the sporting world. In a letter directed to the current commissioner and seen by ReadWrite, the request was made for his response no later than October [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/congress-summons-nba-commissioner-adam-silver-over-massive-gambling-scandal/">Congress summons NBA Commissioner Adam Silver over massive gambling scandal</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>The Commissioner of the National Basketball Association (NBA), Adam Silver, has been asked by the US Congress to provide a briefing concerning the recent gambling scandal that has rocked the sporting world.</p>
<p>In a letter directed to the current commissioner and seen by ReadWrite, the request was made for his response no later than October 31, 2025, concerning the FBI investigation into rigged poker games, match and player abuse of NBA betting regulations, and accusations of wire fraud.</p>
<h2><span id="nba_commissioner_silver_asked_to_present_to_congress_on_the_gambling_scandal">NBA Commissioner Silver asked to present to Congress on the gambling scandal</span></h2>
<p>As we reported, as part of a thirty-one-person sting, Miami Heat guard Terry Rozier, Portland Trail Blazers coach Chauncey Billups, and former NBA star Damon Jones were arrested.</p>
<p>The charges laid against the three “range from wire fraud, money laundering, extortion, robbery, and illegal gambling. This FBI will leave no room for any perpetrating of crime across this country,” said FBI Director Kash Patel as part of the press announcement.</p>
<p>Rozier and Billups were subsequently suspended as part of an official correspondence, but as of yet, there has been no line from Silver on the request from Congress.</p>
<p lang="en" dir="ltr">The following has been released by the NBA. pic.twitter.com/vJ4bL2JwiC</p>
<p>— NBA Communications (@NBAPR) October 23, 2025</p>
<h2><span id="congress_requests_silver_to_report_on_five_key_areas">Congress requests Silver to report on five key areas</span></h2>
<p>Commissioner Silver was specifically asked to address five key questions in the letter from Congress, including:</p>
<ul>
<li>Details about the fraudulent, illegal, and alleged betting practices in connection with NBA players, coaches, and officials, including the actions of NBA players and coaches identified in the recent indictment, as well as prior instances</li>
<li>Actions the NBA intends to take to limit the disclosure of non-public information for illegal purposes</li>
<li>Whether the NBA’s Code of Conduct for players and coaches effectively prohibits illegal activity, including the disclosure of non-public information for the purposes of illegal betting schemes</li>
<li>An explanation of the gaps, if any, in existing regulations that allow illegal betting schemes to occur</li>
<li>Whether and how the NBA is re-evaluating the terms of its partnerships with sports betting companies.</li>
</ul>
<p>Silver’s appearance on the Pat McAfee show was specifically mentioned by Congress, highlighting a point he made in regards to “two-way” player contracts.</p>
<p>On two-way players, Silver admitted they could be at risk of manipulation, saying “We’ve asked some of our partners to pull back some of the prop bets, especially when they’re on two-way players, guys who don’t have the same stake in the competition where, you know, it’s it’s too easy to manipulate something which seems otherwise small and inconsequential to the overall score.”</p>
<p>Congress touched on previous breaches, saying “Illegal sports betting based on non-public information in the NBA is not a new problem,” referring to Porter pleading guilty to wire fraud for his fraudulent actions in multiple NBA games under the FBI microscope.</p>
<p>Silver also stated as part of the interview that he would like to see a federal remit on some betting lines, saying, “We (The NBA) accept betting is legal in roughly 35 states now in the United States. I think probably there should be more regulation. Frankly, it may be surprising to hear from me. I wish there was federal legislation rather than state by state.”</p>
<p>In closing, the letter has instructed Commissioner Silver to give his briefing for the end of October, which will set out the stall for betting breaches and action the five points Congress has asked him to cover.</p>
<p>Featured image: Jen Pottheiser/Wikimedia</p>
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<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/congress-summons-nba-commissioner-adam-silver-over-massive-gambling-scandal/">Congress summons NBA Commissioner Adam Silver over massive gambling scandal</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>Elon Musk received summons in SEC suit over Twitter disclosure</title>
		<link>https://www.ourstoryinsight.com/elon-musk-received-summons-in-sec-suit-over-twitter-disclosure/</link>
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		<pubDate>Fri, 21 Mar 2025 08:50:31 +0000</pubDate>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[disclosure]]></category>
		<category><![CDATA[Elon]]></category>
		<category><![CDATA[Musk]]></category>
		<category><![CDATA[received]]></category>
		<category><![CDATA[SEC]]></category>
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		<guid isPermaLink="false">https://www.ourstoryinsight.com/?p=5963</guid>

					<description><![CDATA[<p>Tesla CEO Elon Musk looks on as US President Donald Trump speaks to the press as they stand next to a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC.  Mandel Ngan &#124; AFP &#124; Getty Images Elon Musk received a court summons last week in connection [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/elon-musk-received-summons-in-sec-suit-over-twitter-disclosure/">Elon Musk received summons in SEC suit over Twitter disclosure</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span class="HighlightShare-hidden" style="top:0;left:0"/></p>
<p>Tesla CEO Elon Musk looks on as US President Donald Trump speaks to the press as they stand next to a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC. </p>
<p>Mandel Ngan | AFP | Getty Images</p>
<p>Elon Musk received a court summons last week in connection with the SEC&#8217;s lawsuit over his alleged failure to properly disclose purchases of Twitter stock in 2022 before bidding to buy the company, according to a filing on Thursday.</p>
<p>A process server delivered the civil summons to Musk on March 14, at the headquarters of SpaceX in Brownsville, Texas, the filing said. The server noted that upon his arrival at the SpaceX facility, three different security guards refused to accept the documents, and one told him he was trespassing. He &#8220;placed the documents on the ground,&#8221; and left while the guards photographed him and his car.</p>
<p>The summons pertains to a case concerning Musk&#8217;s eventual purchase of Twitter, now known as X, for $44 billion in 2022. Prior to the acquisition, Musk built up a position in the company of greater than 5%, which would&#8217;ve required disclosing his holdings to the public within 10 calendar days of reaching that threshold.</p>
<p>According to the SEC&#8217;s civil complaint, filed in U.S. District Court in Washington, D.C., in January, Musk was more than 10 days late in reporting that material information, &#8220;allowing him to underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.&#8221;</p>
<p>Once he took over Twitter, Musk used the platform to promote then-candidate and now President Donald Trump, and other Republican candidates and causes. Musk, who&#8217;s also CEO of <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-4">Tesla<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span>, spent some $290 million to help propel Trump back to the White House and now serves within the administration as a top advisor to the president.</p>
<p>An answer from Musk, or his attorneys, is due on April 4. Musk has the option to dismiss by that date.</p>
<p>The SEC, Elon Musk, and Quinn Emanuel Partner Alex Spiro, his lawyer, didn&#8217;t immediately respond to requests for comment.</p>
<p>Trump&#8217;s White House has directed deep cuts in the budget and staff of independent federal regulatory agencies, including the SEC. The regulator offered $50,000 to many of its employees, encouraging them to resign or retire by March 21.</p>
<p>The Trump administration has also reversed a 15-year-old policy that allowed the SEC&#8217;s director of enforcement to issue formal orders of investigation. The agency will now require requests for formal orders of investigation to be pitched to and approved by a vote of SEC commissioners, a change likely to slow down probes like the one that led to the SEC&#8217;s suit against Musk.</p>
<p>Musk previously settled civil securities fraud charges brought by the SEC at Tesla, his autos business. In that matter, Musk and Tesla each had to pay $20 million in fines, and Musk had to temporarily relinquish his role as chairman of the Tesla board.</p>
<p><strong>WATCH:</strong> Ron Baron on Elon Musk</p>
<p><span class="InlineVideo-videoButton"/><span/></p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/elon-musk-received-summons-in-sec-suit-over-twitter-disclosure/">Elon Musk received summons in SEC suit over Twitter disclosure</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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