The violation is punishable by up to six years in prison and a maximum fine of $10,000 but Oakley is not expected to serve jail time. He's most well known for his runs with the Chicago Bulls (1985-88), New York Knicks (1988-98), and Toronto Raptors (1999-2001). The team played in Oakland, Calif., two days before the incident and has a game in Detroit on Friday.
On Thursday, TMZ Sports reported Oakley tried to remove a $100 chip from a wager after realizing he was going to lose.
"Mr. Oakley was suspected of adding to or reducing his wager on a gambling game after the outcome was known", the report said.More news: Sonos Adds AirPlay 2 Support to Certain Speaker Models
Oakley was arrested by Nevada Gaming Control Board Enforcement Agents at the Cosmopolitan of Las Vegas. The Clark County Detention Center confirmed Oakley had been arrested but has since been released.
One source told TMZ that the arrest was not a big deal: 'This is an insignificant matter that will be quickly resolved'.
Oakley now serves as a head coach in Ice Cube's three-on-three league, BIG3.More news: Sony Xperia XA2 Plus brings high-res audio to the mid-range
Former New York Knicks teammates Patrick Ewing and Charles Oakley before an National Basketball Association game in 2016.
Oakley later filed a civil suit against the venue and Knicks owner James Dolan, claiming damages for defamation and slander causing emotional distress. Oakley has fought the charges.
Oakley was charged with misdemeanor assault and trespassing, among other charges.More news: Trump says North Atlantic Treaty Organisation allies have agreed to increase defence spending
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