The man at the center of a multimillion-dollar gambling ring will forfeit millions in luxury cars and goods during his sentencing hearing in November, but the names and reputations of the high rollers in his book will remain under wraps.
Kerwin Sande has pleaded guilty to running an illegal gambling business and money laundering. As part of a plea agreement reached with federal prosecutors, Sande has agreed to forfeit $2 million in assets that were seized, and he will not be allowed to return to his Denver-area home.
Sande faces possible prison time at his sentencing hearing in U.S. District Court on Nov. 13.
But the list of Denver’s high rollers — who lost thousands or millions of dollars to Sande — will not be released, Jeffrey Dorschner, a spokesman for the U.S. attorney’s office in Colorado, said Friday.
CBS4 first reported the plea agreement that details the gambling operation Sande operated from his Denver-area home from June 2006 to November 2013. The agreement was signed on Aug. 12.
Prior to starting the operation, Sande filed for bankruptcy in 2001 and moved to Costa Rica, where he eventually registered the website he used to take bets, Play Fast Sports. Beginning in 2008, Sande lived primarily in Denver, but kept a second home in Scottsdale, Ariz.
Sande recruited and entertained bettors on the golf courses of exclusive country clubs. He maintained memberships at about six private clubs in Colorado, Arizona, Oklahoma and California.
He took bets on professional and college sports over the phone and on his website. Occasionally, bettors would pay with goods such as gold coins and, in one instance, a motorcycle.
Bettors always received their winnings in cash payments. Several people told authorities that Sande would mail them golf magazines with $100 bills tucked in between the pages.
Sande also owned several luxury sports cars — including a BMW and Chevrolet Corvette — that had customized, hidden lock boxes, which he used to transport large sums of cash. The cars will not be returned to him, according to the plea agreement.
One bettor told investigators that Sande once said he would accept $4 million to $7 million of wages each weekend during football season.
A different bettor reported losing $2 million to $5 million to Sande in two years.
When agents from the Federal Bureau of Investigations searched Sande’s home in October 2013, they seized four vehicles, nine motorcycles and valuable watches. About $500,000 of assets seized during the investigation will be returned to Sande.
Jordan Steffen: 303-954-1794, jsteffen@denverpost.com or twitter.com/jsteffendp
