Bucks co-owner Wes Edens ID'd as victim in $1B blackmail plan: report
Milwaukee Journal Sentinel • • business
Key Points:
- Wes Edens, billionaire co-owner of the Milwaukee Bucks, is the victim in a $1 billion extortion scheme linked to a brief romantic relationship, according to federal court filings and the Wall Street Journal.
- Changli "Sophia" Luo, 46, has been charged with blackmail, extortion, and related offenses for threatening to release intimate photos and videos of Edens unless he paid over $1 billion.
- The alleged blackmail began after their relationship ended and included threats to Edens' family and investors, with Luo accusing Edens of sexual misconduct during her alleged mental incapacitation.
- Edens denied the allegations but reportedly paid $6.5 million to settle part of the matter and plans to testify at the upcoming trial set for later this year.
- Luo is currently free on a $500,000 bond, and Edens' spokesperson declined further comment, stating the indictment speaks for itself.