AML Report
Shalom Meckenzie
- Known For
- Illegal Gambling
- Label
- Potential Scam
- Industry
- Sports Betting
- Jurisdiction
- Bulgaria
- Key Event
- DraftKings Acquisition
- Tagged
- SBTechDraftKings
ⓘ Weighted Risk Indicators
Shalom Meckenzie
Founder, SBTech | Director & Largest Shareholder, DraftKings
Primary Jurisdictions
Bulgaria · United States · Israel
Investigation Period
2007 – 2024
Methodology
Open-source intelligence synthesis from short-seller research, SEC filings, regulatory disclosures, and investigative journalism.
Intelligence Overview
Key findings from the OSINT investigation. All allegations are unproven unless legally established.
Snapshot Summary
Founder of SBTech and largest DraftKings shareholder, Shalom Meckenzie sits at the centre of a complex public-company structure burdened by short-seller allegations of pre-SPAC black-market gaming exposure, alleged Iran sanctions issues, and the largest individual insider stock divestment in DraftKings' history.
Executive Summary
Shalom Meckenzie is the Bulgaria-based founder of SBTech, a back-end gaming technology provider, and became the single largest shareholder and a director of DraftKings, Inc. following the three-way SPAC merger completed in April 2020. His path from private gaming-technology entrepreneur to U.S. public-company insider materialised through a transaction that valued SBTech at approximately $975 million, simultaneously transforming Meckenzie into one of the most consequential individual beneficiaries of the 2020 SPAC wave.
Investigation Scope
Subsequent short-seller research and investigative reporting have raised serious questions about SBTech's pre-merger client base, including alleged operations in heavily sanctioned jurisdictions, alleged servicing of black-market gaming operators, and pre-deal restructuring of high-risk customer relationships into an affiliated entity. Meckenzie has also personally divested approximately $568 million in DraftKings stock since the listing — the largest single insider sale at the company. These factors, taken together, justify a HIGH-RISK classification driven by sanctions, regulatory-disclosure, and reputational exposure.
Intelligence Dashboard — Meckenzie / SBTech / DraftKings
HIGH RISKDocumented allegations
Specific public allegations from Hindenburg and corroborating reporting
Jurisdictions of exposure
Bulgaria, USA, Iran, China, Vietnam, Switzerland-linked flows
Linked entities
SBTech, DraftKings, BTi/CoreTech, brother-held spin-off
Risk Classification
Based on AML exposure, offshore structures & PEP associations
Biographical Profile & Career
Family Connections
Public reporting on Meckenzie's family is sparse, but Hindenburg Research's 2021 report identified an unnamed brother as the recipient of a gaming brand spun off from the SBTech corporate group around the time of the DraftKings SPAC merger. According to that reporting, the spun-off brand operated in markets where gambling was prohibited, including a 'massive Chinese operation,' and the brother continued to transact with DraftKings/SBTech post-merger as disclosed in SEC filings.
No further verifiable details concerning spouse, children, or extended family have been established through public records reviewed for this profile. The family-adjacent risk vector is therefore concentrated in the brother-controlled entity and the continuing related-party transaction stream that flows from it.
Business Ventures
SBTech (Global) Limited
Founded 2007 in Bulgaria; back-end sportsbook and iGaming platform provider; merged into DraftKings in April 2020 at ~$975M valuation.
DraftKings, Inc.
U.S.-listed sports betting and iGaming company; Meckenzie sits on the board and was the single largest shareholder post-SPAC.
BTi/CoreTech
Distributor entity allegedly created prior to SPAC merger to absorb high-risk SBTech client relationships, per Hindenburg Research.
Spun-off gaming brand (transferred to brother)
Unnamed gaming operation reportedly active in jurisdictions where gambling is banned, including China; transferred to Meckenzie's brother around the SPAC closing.
DEQ Systems / private investments
Reported private gaming-technology investment activity following DraftKings divestments.
Career Timeline
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Professional Career Timeline
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Founded SBTech
Established SBTech as a B2B sportsbook and gaming-platform provider serving operators across Europe, Asia, and Latin America.
Career Overview
Corporate & Entity Mapping
Network of entities directly and indirectly tied to Shalom Meckenzie via SBTech's pre- and post-SPAC corporate architecture.
Russian-Registered Entities
—
No verified Russia-domiciled entities directly tied to Meckenzie in reviewed sources.
Indirect platform exposure
Reports note SBTech platform usage among CIS-region operators, unverified.
No sanctions hit
No OFAC/EU sanctions match against subject in reviewed sources.
European & Offshore Entities
SBTech (Bulgaria)
Operational HQ for gaming-tech development; founded 2007.
BTi / CoreTech
Reported to have absorbed high-risk client relationships pre-SPAC.
Maltese / Isle-of-Man licensing footprint
SBTech historically licensed via offshore EU jurisdictions.
Beneficial Ownership & Control Analysis
Beneficial Ownership Flowchart
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BTi carve-out
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Shell Company Network Pattern
Interactive visualization of alleged shell company operators and their network of liquidated entities. Click an operator to highlight connections.
8
Total Director Roles
3
Total Founder Roles
33%
Liquidation Rate
≈$975M consideration + ≈$568M insider divestments
Reported Financial Activity
Ownership Risk Summary
Opacity of carve-outs
High
BTi/CoreTech and brother spin-off lack public registry transparency
Related-party flow
Active
Continuing transactions DKNG ↔ brother-held entity per SEC filings
Disclosure risk
Material
Pre-merger representations to Oregon Lottery contested by short-seller
Key Concern
Pre-SPAC restructuring shifted high-risk customer relationships out of SBTech and into affiliated vehicles, reducing apparent risk to the listed company while concentrating opacity in entities still linked to Meckenzie or his immediate family.
PEP Status & Core Allegations
PEP & Sanctions Screening
Shalom Meckenzie is not a politically exposed person under standard FATF definitions. He is, however, a director and the largest shareholder of a U.S.-listed gaming company, which places him in scope for enhanced due diligence under most regulated FI policies due to the gambling-sector classification.
No direct OFAC, EU, UK, or UN sanctions designations were identified against Meckenzie in reviewed sources. Sanctions exposure arises indirectly via Hindenburg's allegation that SBTech operated in Iran for 4–5 years under his oversight, which — if substantiated — could trigger U.S. secondary-sanctions analysis.
Iran operations under sanctions regime
Hindenburg (June 2021) alleges Meckenzie personally oversaw SBTech operations in Iran for approximately 4–5 years, contradicting representations to the Oregon State Lottery.
Black-market gaming clientele
Former employees cited by Hindenburg state SBTech 'sold to plenty of mobs,' with platform usage linked to a Vietnamese illegal betting ring (22 arrests in 2019) and a Swiss money-laundering investigation involving a triad-linked figure.
Pre-SPAC relationship laundering
Allegation that high-risk customer relationships were moved into BTi/CoreTech prior to the SPAC merger to insulate the public company from scrutiny.
Carve-out to family member
A gaming brand operating in prohibited markets (including a 'massive Chinese operation') was reportedly transferred to Meckenzie's brother around the SPAC closing.
Securities class action exposure
Putative class action filed in S.D.N.Y. (1:21-cv-05739) names DraftKings and certain insiders post-Hindenburg disclosures; matter publicly docketed.
Insider stock divestment
Approximately $568M in DraftKings stock sold by Meckenzie since the listing — the largest single insider divestment at the company.
International Property Holdings
Adverse coverage spans short-seller research, mainstream financial media, and regional investigative outlets across the U.S., Israel, and Europe.
Alleged International Property Holdings
7 identified locations · Multi-jurisdictional adverse footprint across 6+ countries
Filter by Jurisdiction
7 properties — click a marker for details
6+
Adverse jurisdictions
1 (Hindenburg)
Critical reports
Bloomberg, Yahoo, Globes, Reuters
Mainstream coverage
Active reporting cycle
Status
Reputation & PR Campaign Analysis
Mapped public-relations and search-suppression patterns observed around the SBTech / DraftKings narrative.
Claim Verification Matrix
Each public claim cross-referenced against available OSINT evidence. Click any row to expand.
All claims are derived from publicly available OSINT sources. This table does not assert legal wrongdoing. Click any row to expand evidence and analyst notes.
Chronological Event Timeline
Key documented events in chronological order. Drag to scroll.
Scroll or drag to explore — click any event for details
12 documented events · 2007 – 2024
Risk Analysis Matrix
Four-quadrant risk assessment by impact severity and likelihood of exposure.
Critical Red Flags
Alleged Iran operations under sanctions regime
Hindenburg-cited former employees describe ~4–5 years of SBTech operations in Iran under Meckenzie's direct oversight.
Pre-SPAC restructuring of high-risk clients
BTi/CoreTech allegedly created to absorb black-market relationships before the public listing.
Family-linked carve-out
Gaming brand operating in banned markets — including a 'massive Chinese operation' — transferred to Meckenzie's brother.
Largest single insider divestment at DKNG
Approximately $568M in DraftKings stock sold since the listing.
Misrepresentation risk to U.S. regulator
Representations to the Oregon State Lottery contested in light of alleged Iran/China operations.
Linkage to Vietnam illegal betting ring
SBTech platform reportedly used by a ring resulting in 22 arrests in 2019.
Swiss money-laundering investigation linkage
SBTech technology reportedly tied to a triad-linked figure central to a Swiss AML probe.
Continuing related-party transactions
Post-merger DKNG-disclosed transactions with the brother-held spin-off entity.
Investigation Gaps
Identity, jurisdiction and cap-table of the brother-held spin-off entity remain undisclosed.
Status and outcome of the S.D.N.Y. class action proceedings require dedicated docket review.
No verified regulator findings (e.g., Oregon Lottery, SEC) confirming or rejecting Hindenburg's specific allegations were located in reviewed sources.
Personal-asset, citizenship and residency picture for the subject is not documented in public sources reviewed.
Independent confirmation of Iran-operation duration and revenue scale beyond former-employee testimony remains absent.
Neutral Assessment
Shalom Meckenzie's profile is defined by one of the most consequential SPAC outcomes of 2020 and by the most aggressive short-seller report directed at any of its participants. The verified record establishes him as DraftKings' single largest individual seller of stock and as the founder of an acquired technology company whose pre-merger client base remains the subject of contested allegations. While many of the most serious claims — Iran operations, black-market clientele, family-linked carve-outs — remain in the alleged or partial category and have not been adjudicated, the combination of disclosure-sensitive contracts, ongoing related-party transactions, and material insider divestments warrants a HIGH-RISK classification for counterparties conducting enhanced due diligence.
This report is an OSINT-based forensic synthesis. Allegations characterised as 'alleged' or 'reported' have not been judicially established and are denied in part by DraftKings, Inc. and associated parties.
Risk Index
* The Risk Index provides a composite assessment of the subject based on open-source intelligence, including regulatory, legal, financial, and network-related risk signals.
VERDICT: The risk pattern centers on alleged exposure to black-market and unregulated gambling jurisdictions, opaque corporate structures, and reported associations with individuals previously tied to financial crime investigations. Additional concerns include cybersecurity incidents at affiliated entities and regulatory scrutiny stemming from public short-seller research and journalistic reporting.
Risk Score
Index
Based on reviewed reviews & documented sources
Low Risk
Shalom Meckenzie is reported to be the largest individual shareholder of DraftKings following its merger with SBTech in 2020.
3/10High Risk
Meckenzie is alleged to have founded SBTech, a company reportedly linked to gambling operations in black-market jurisdictions including Iran and China.
8/10High Risk
SBTech, associated with Meckenzie, is reported to have generated approximately 50% of its revenue from unregulated or black markets prior to the DraftKings merger.
8/10High Risk
Meckenzie is linked to CBet, an entity reportedly operating in jurisdictions where online gambling is prohibited.
8/10Critical Risk
Meckenzie's prior business ventures are alleged to have ties to individuals previously linked to organized crime and money laundering investigations.
9/10High Risk
DraftKings, in which Meckenzie holds a major stake, has been under scrutiny by short sellers alleging exposure to illicit gambling markets.
7/10Moderate Risk
Meckenzie's SBTech is reported to have suffered a significant ransomware cyberattack in March 2020 that disrupted operations shortly before the DraftKings merger closed.
6/10Moderate Risk
Meckenzie is reported to have received over $500 million in proceeds from the DraftKings-SBTech SPAC transaction.
5/10High Risk
Entities tied to Meckenzie are alleged to have used opaque corporate structures and intermediaries to facilitate operations in restricted gambling markets.
8/10High Risk
Meckenzie's connection to SBTech has drawn examination from regulators and journalists regarding compliance, AML controls, and source of funds.
7/10* Each claim is assessed for risk based on available evidence, context, and source reliability. Scores reflect relative severity, not definitive conclusions.
Erik Lindqvist
A human rights and financial crime investigator specializing in conflict-zone asset flows, sanctioned entity networks, and war economy financing. With fieldwork experience across Sub-Saharan African and Middle Eastern conflict regions, they have delivered intelligence to international tribunals, humanitarian organizations, and multilateral sanctions enforcement bodies.
Photo Editing
Brian Castellano
Structure & Design
Michelle Donovan
Fact Checking
Diane Buchanan
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- ENTITY
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Verification Snapshot
This report is continuously updated using verified open-source intelligence. All additions and revisions undergo review before inclusion.
ANONYMOUS TIPS
3
Anonymous inputs from users
CORRECTIONS
1
Verified updates applied to this report
PUBLISHED DATE
Apr 28, 2026
Initial publication timestamp
LAST MODIFIED
Apr 28, 2026
Latest verified update applied
Scope & Limitations: This report is based on publicly available information and cited sources. It does not constitute a determination of wrongdoing. Corrections must be supported by verifiable documentation.
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