Police Chief Placed Millions in Bets as He Embezzled, Investigators Say

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by Hurubie Meko

February 21, 2026

AI-Generated Deep Dive Summary

New Haven’s former police chief, Karl R. Jacobson, has been arrested and charged with two counts of larceny for allegedly embezzling $85,500 from city funds while placing $4.5 million in online bets. Investigators claim Jacobson misused public money meant to compensate confidential informants in drug cases, taking as much as $81,500 between 2019 and December 2023. He also embezzled two checks totaling $4,000 from the New Haven Police Activity League in December. Jacobson, a 15-year veteran of the police force who became chief in 2022, admitted to misusing public funds and resigned in January following the initial accusations. The Connecticut Department of Consumer Protection Gaming Division launched an investigation after his resignation, obtaining search warrants for online betting platforms DraftKings, FanDuel, and Fanatics. These actions highlight how easy it has become to place bets online, with apps offering sports betting, slot machines, and prediction markets. The case raises concerns about financial oversight in public institutions and the potential for misuse of funds intended for law enforcement operations. Jacobson’s alleged actions not only undermine public trust but also demonstrate how vulnerabilities in financial systems can be exploited by individuals in positions of power. The story underscores the importance of accountability and transparency in government, particularly when public money is involved. This matter is significant because it highlights the risks associated with online gambling and the potential for embezzlement in public institutions. It also sheds light on the need for stronger financial oversight mechanisms to prevent similar incidents in the future. As online betting continues to grow in popularity and accessibility, this case serves as a cautionary tale about the importance of ethical conduct and proper monitoring of public funds.

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Originally published on NYT Homepage on 2/21/2026