Gilbert Arenas Arrested For Illegal Gambling

 Gilbert Arenas was arrested along with five others for allegedly running an illegal high-stakes poker game at his Encino mansion. 

He faces three federal charges: one count of conspiracy to operate an illegal gambling business, one count of operating an illegal gambling business, and one count of making false statements to federal investigators. Each charge carries a potential penalty of up to five years in prison if convicted.

This story is still developing.