Officials from the Nevada Gaming Board told TMZ that Oakley “was suspected of adding to or reducing his wager on a gambling game after the outcome was known.”
Oakley allegedly tried to take back a $100 chip he had wagered after realizing he was going to lose, but it’s not known what game the former Knicks star was playing at the casino.
A security team confronted Oakley and after reviewing the casino video footage, he was booked into Clark County Detention Center.
TMZ notes that Oakley could face one to six years in prison if he’s convicted of fraud at a gaming establishment.
“This is an insignificant matter that will be quickly resolved,” an unidentified source close to Oakley told TMZ.
Oakley played 19 seasons in the NBA, 10 of which were with the Knicks, before retiring in 2004 with the Rockets. He is now a coach for the Killer 3s of the Big3 league.