Former National Basketball Association (NBA) player Malik Beasley, indicted by U.S. prosecutors in June for his alleged participation in a gambling scheme, is negotiating a plea agreement with the Department of Justice (DoJ), according to the Associated Press.

Beasley’s attorney told the AP that they are negotiating a plea agreement with federal prosecutors, “with an expected direction in the coming days.”

Alleged Scheme Involved Insider Information

Beasley and former NBA player Ed Davis were among six individuals indicted on federal charges this summer.

Prosecutors allege Beasley shared insider information with gamblers and manipulated his on-court performance—under- or over-performing bookmakers’ expectations on points and rebound totals—while playing for the Milwaukee Bucks in 2024 to rig wagers, enrich sports bettors, and clear personal debts.

Beasley and Davis allegedly collaborated closely on the operation. ^{Davis is accused of funneling insider information to sports bettors, who then placed wagers in the hundreds of thousands of dollars, collecting massive payouts when Beasley hit targeted statistical thresholds.}

Millions in Gambling Losses

The federal indictment includes charges of wire fraud conspiracy, bribery in sporting contests, honest services wire fraud conspiracy, and money laundering conspiracy, according to the U.S. Attorney’s Office for the Eastern District of New York.

Beasley pleaded not gu^{ilty in July.}

According to the AP, Beasley accumulated millions of dollars in gambling losses and borrowed heavily from Davis.

ESPN reported in March that a federal judge in New York ruled in favor of Beasley’s former sports marketing agency during a contract dispute, issuing a $1 million civil judgment against him. Proceeds generated from the illicit gambling ring were reportedly used to pay down those debts.

Nearly $60 Million in Career Earnings

If convicted, Beasley faces up to 20 years in prison on the wire fraud conspiracy counts, an additional 20 years on the money laundering conspiracy charge, and up to five years for sports bribery.

Beasley last played for the Detroit Pistons during the 2024-25 season, starting 82 games and averaging 16.3 points per contest.

He earned $6 million during his final season in Detroit. ^{According to Spotrac, Beasley earned more than $59.9 million across his 10-year NBA career.}