Malik Beasley's lawyer says player is no longer target of FBI gambling investigation
Published in Basketball
DETROIT — Former Detroit Pistons guard Malik Beasley is no longer the target of an FBI investigation focused on wire fraud, gambling and prop bets, opening a potential path to return to the National Basketball Association, his lawyer told The Detroit News on Friday.
The lawyer's declaration of a decision by federal prosecutors in the Eastern District of New York followed a series of meetings between Beasley's lawyers, Steve Haney and Mike Schachter, and comes seven weeks after The News reported Beasley was under investigation.
Beasley, 28, is a free agent since the Pistons pulled back a three-year, $42 million offer after news emerged about the FBI investigation.
"Malik is not charged, not indicted and not a target of the investigation, but he's unemployed because of it," Haney told The News on Friday. "It is flat-out un-American to be deprived of the right to work based on a mere allegation. Hopefully, this gives some new hope to his situation of being gainfully employed in the new year."
Though Beasley is not a target of the FBI investigation, according to his lawyer, it is unclear whether Beasley will be charged with a crime.
"I have no idea," Haney said. "That is the frustrating thing. You live in a state of purgatory with a cloud hanging over your head for what? Forever? And you're out of the league and can never play basketball again?"
It also is unclear whether Beasley could be punished following any internal investigation by NBA officials.
There was no immediate comment from a spokesman for the U.S. Attorney's Office in the Eastern District of New York.
Last year, Beasley signed a one-year, $6 million contract with Detroit and played a crucial role in the team's resurgence. He finished in second place in Sixth Man of the Year voting, averaging 16.3 points on 41.6% shooting from 3-point range. Beasley was also one of three players who finished the regular season with at least 300 3-pointers made, joining the Minnesota Timberwolves' Anthony Edwards and Golden State Warriors' Stephen Curry.
At the beginning of the offseason, it seemed inevitable that Beasley would re-sign with the Pistons. However, news of the gambling allegations disrupted Detroit's plans. The Pistons pivoted by signing Duncan Robinson in July.
Haney emphasized that the gambling allegations predated his career in Detroit.
“He’s a great guy. He was a great Piston. He was great for the city. Hopefully, people can remember what a great teammate he was. And maybe there is a pathway for him to return to Detroit," Haney said.
Beasley’s lawyer also is trying to help the NBA star recover from $8 million worth of financial problems, which in recent years have included failing to pay a celebrity barber, a lender, a marketing firm and a dentist. The dentist started garnishing Beasley's paychecks from the Pistons in February.
Beasley was evicted from his high-rise apartment in downtown Detroit earlier this month after being accused of failing to pay rent at The Stott. The historic high-rise apartment building in downtown Detroit is owned by Bedrock Detroit, the real estate arm of the business empire built by Dan Gilbert, who owns the NBA's Cleveland Cavaliers.
Beasley has been sued twice by the landlord this year for failing to pay a collective $21,500 in rent.
Haney, the lawyer, has been working to clear up Beasley’s debts and anticipates the basketball star could reclaim the apartment as early as next week.
“A lot of his problems came from, I think, a lack of management and not having somebody diligently coordinating a lot of his financial matters,” Haney said. “And though I’m not his business manager, I am trying to help coordinate whatever I can to get him back in better standing.”
In January, a celebrity barbershop with a long roster of NBA stars won a $26,827 judgment against Beasley. The barbershop, Cairo Cuts, operates in Milwaukee, where Beasley played for the Milwaukee Bucks from 2022-2024.
“He did not owe a barber $30,000 for haircuts. It was a personal loan," Haney said. "It was a matter between he and the barber. It was not for services rendered.”
Beasley’s financial situation has been mischaracterized, his lawyer said.
“It is not fair to characterize him as being broke,” Haney said. “Athletes are very busy. They have had a life of privilege. They are not used to handling business affairs. Most of these NBA players get people around them that they trust to handle business affairs. Malik obviously did not have people in his management circle that were diligent. We are working with him to go through and solve some of the problems.”
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