A billion dollars — not a ransom, not a settlement — an alleged extortion demand aimed at Bucks co-owner and Fortress co-founder Wes Edens. Welcome to Edens Blackmail Watch — I’m Vic, Reese is here, and yeah, this is the story NBA ownership circles have been whispering about for weeks. We’ve got a federal extortion case, a nine-figure demand, and a bunch of open questions about who supposedly made it and what leverage they claimed to have — so let’s stick to the charging documents and keep the alleged separate from the proven. Right, and I want to know what the NBA knew, when Fortress heard about it, and whether any of this changes Edens’ standing as a Bucks owner. That’s the part I’m watching. From Holden Walter-Warner at The Real Deal:
A nightmare for Fortress Investment Group co-founder Wesley Edens became public this week, detailing an alleged shakedown to the tune of over $1 billion.
Edens, a billionaire who co-owns the NBA’s Milwaukee Bucks, was allegedly targeted by a woman with whom he began a romantic relationship online, according to prosecutors.
This is a federal extortion case out of the Southern District. Prosecutors allege Sophia Luo demanded more than a billion dollars from a victim the Wall Street Journal identified as Wesley Edens, the Fortress co-founder and Bucks co-owner. The charge is extortion, not a civil dispute — and right now, it’s an indictment, not a conviction. A billion dollars. Somebody looked at Wesley Edens and decided, all right, I want a billion dollars or I’m posting the videos. How does that even start — was there a number from day one, or did this just keep climbing? Prosecutors say it started in LinkedIn in 2022, turned into a physical relationship by mid-2023, and then came the threats. They also say she tracked down his girlfriend at a doctor’s office. That’s what’s in the indictment. Edens has denied wrongdoing, and Luo’s counter-allegations are unproven at this stage. And where does the NBA land in all this? Edens is still a controlling owner of the Bucks — does the league say anything, or do they wait for a conviction that may never happen? You’ll find links to every story we covered today in the show notes, so if one caught your ear, you can take a closer look there. That’s Edens Blackmail Watch for this Tuesday, May 12th. This is a Lantern Podcast.