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Businessman pleads guilty in Toledo point-shaving scandal

Feb 5, 2013, 10:05 AM EDT

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Mitchell “Ed” Karam, a businessman from the Detroit area, pleaded guilty on Monday to charges stemming from a point-shaving scandal at the University of Toledo.

Karam admitted that he bribed basketball players to shave points between 2004 and 2006, while also admitting to fixing horse races in Florida and Delaware as well as fraudulent real estate deals in Detroit. According to the AP, Karam bet as much as $331,000 on Toledo basketball games during that time.

One former basketball player was charged and has plead guilty, back in 2008. That was Sammy Villegas, who has since gone on to a professional basketball career overseas. Three other former basketball players – Anton Currie, Kashif Payne and Keith Triplett — and Karam’s associate, Ghazi Manni, will be going on trial on March 12th.

A former Toledo football player pleaded guilty in the bribery investigation, saying he was paid $500 to fumble in the 2005 GMAC Bowl.

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