Mr Arenas, 43, is charged along with five other defendants, including one Israeli man who prosecutors claim is a “suspected organized crime figure”.
Prosecutors have charged him with three federal crimes, including operating an illegal gambling business and making false statements to investigators.
During a court appearance on Wednesday, Mr Arenas pleaded not guilty and was released pending trial after paying The indictment adds that Mr Arenas falsely claimed to know nothing about gambling in his home, and filed a petition to get the money back that was seized by federal agents during a raid on 20 July, 2022.
His trial is scheduled for 23 September. If convicted of all three charges, he faces up to 15 years in prison.
Under California law, a poker match becomes illegal if someone running the game takes a house cut, or fee.
This is not his first time facing legal issues. In January 2010, he was charged with illegal gun possession after drawing a firearm during a card game in the Washington DC Wizards locker room.
He pleaded guilty and was sentenced to probation. He played his last NBC game in 2012. $50,000 (£38,000) bond.
