Guilty Of Federal Racketeering Charges Says BetOnSports
According to U.S. Attorney Catherine Hanaway and in a move that stunned the online gambling sector, BetOnSports PLC pleaded guilty to federal racketeering charges. The Fort Wayne Journal Gazette carried the details of the bargain in which Hanaway agreed to drop any further criminal prosecution of the company in return for BetOnSports cooperation in supplying witnesses and evidence in the pending cases against Carruthers, Kaplan and other lower-level defendants.
“…Now that the legal case is settled and access to the U.S. market is banned, BetOnSports is going out of business, Demerath said. “It is going to be wound up and closed down,” Demerath said.”
“”This plea constitutes a submission by the company to the U.S. justice system,” Hanaway said in a statement. “This plea, combined with the terms of the civil junction, should put an end to the BetonSports illegal gambling empire.”
“…faces a fine up to $500,000 and possible forfeitures. The company also is subject to a permanent injunction that requires it to repay wagers received from U.S. gamblers held by the company as of June 1, 2006.”
Sentencing for BetOnSports is set for Oct. 19. In the meantime, Carruthers and Kaplan remain under arrest since this deal in no way ends their prosecution.
Author: GamesAndCasinoRelated News
-
Read Full Article
Gambling News
Amaya CEO David Baazov Charged With Insider Trading
The Amaya Gaming Group's rise to prominence in the online gambling industry has been a pretty big story over the past few years. Starting out as a relatively small company that seemed to specialize in buying up undervalued online gambling software companies like CryptoLogic and turning them around, they really broke out in 2014 when they purchased the Rational Group in mid-2014 for a huge sum of around $5 billion. -
Read Full Article
Gambling News
Mt. Gox CEO Charged by Japanese Authorities
At one point in time, about four-fifths of all bitcoin exchanges were handled by Mt. Gox, then the top exchange by far for bitcoin transactions. Having what seemed to be such a solid operation taking over such a large portion of the market helped the cryptocurrency to gain a lot of attention with huge fluctuations in its value. -
Read Full Article
Gambling News
Federal Poker Bill May Still Be Breathing
A comprehensive federal bill that legalizes online poker for any state wishing to include it might still have some strength left in it, at least that is what Frank Fahrenkopf believes. Fahrenkopf is the current president and CEO of the American Gaming Association, a lobbying agency that supports the gaming entertainment industry.At the age of 73, Fahrenkopf is scheduled to step down from his position on June 30th of this year after nearly 20 years at the helm.
