Porter pleaded guilty on Wednesday to conspiracy to commit wire fraud in a New York federal court and has been released on a $250,000 bond insured by his mom and spouse.
“I knew what I did was wrong and unlawful and I’m deeply sorry for my conduct,” Porter told Brooklyn Federal Judge James R. Cho during his arraignment on Wednesday.
Porter faces up to 20 years in prison after pleading guilty with prosecutors recommending between 41 to 51 months of prison time. The 24-year-old, who is undergoing gambling counseling, is projected to pay $456,000 in fines and restitution.
His salary with the Raptors and their G-League affiliate for the 2023-24 season was $410,000. Porter has a sentencing hearing scheduled for Dec. 18. According to a criminal docket, Porter is facing forfeiture of “any property, real, or personal..