By Joe Zusman | October 18, 2007

Last August, San Antonio police raided the home of Richard Lee, the “elder statesman” at the 2006 World Series of Poker Main Event final table, who ended up finishing sixth.Law enforcement officials were searching for evidence with which to link Lee to an illegal sports betting operation.

Police found enough to charge Lee and four others with misdemeanor “gambling promotion,” for allegedly running the website www.betbsbnow.com, even though the site was registered in Costa Rica.Items seized in the raid included cars, jewelry, electronics, sportsbook payout receipts, and $2.7 million.

Lee was facing up to one year in jail and a $4,000 fine, but he and his cohorts have pleaded no contest to the charges, which will allow them to avoid spending any time behind bars.They will each have to pay a $2,000 fine, however, as well as forfeit a total of $2.6 million to the state.Most of that money comes from Lee’s $2.8 million cash at the WSOP.

Said Lee, “I'm just glad it's over with. I'm mean, you know, I guess I just got to get out to Las Vegas and win a poker tournament.”

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